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Thursday, November 5, 2009

Sirius XM has 102,000 more subscribers than three months ago

But it has 400,000 fewer subs than a year ago, at the end of the third quarter of 2008. The satellite radio service depends heavily on new car sales, but is making its most concerted move yet toward signing up customers buying used cars, and toward “winbacks” of previous subscribers. CEO Mel Karmazin tells this morning’s third-quarter conference call “the subscription radio business model is very alive and very well.” Revenue is up 3% to $630 million, and Karmazin re-affirmed his full-2009 guidance of at least $400 million in adjusted income from operations. He even volunteered guidance for 2010: growth of 20% in adjusted income from operations. The CEO teased, but didn’t elaborate on, “the most aggressive brand-marketing campaign in our history.” That’s due the week before Thanksgiving. Follow the trading for Sirius XM stock (“SIRI”).

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