Latest Automotive News

Subscribe in a reader




Auto Price Quote
Get a free auto price
quote from Edmunds!

Canadian Satellite Radio Holdings reduces Q2 loss

Email   small font medium font large font

Google
 
Web AutoNews24h.com

TORONTO (CP) _ Canadian Satellite Radio Holdings Inc. (TSX:XSR), the operator of satellite radio provider XM Canada, has reduced its second quarter losses to $27.1 million on improved revenue as its subscriber base expands, the company reported Monday.

Losses for the quarter ended Feb 28 were equal to 57 cents per share, compared to a loss of $44 million, or $1.05 per share, in the same period last year.

The company posted a subscriber count of 237,500, but did not provide comparable year-ago figures.

XM Canada is on track to reach one million subscribers by 2010, said chairman and CEO John Bitove.

``We are pleased with our performance this quarter and are confirming our position as Canada's premium digital audio entertainment and information company,'' he added.

XM Canada recently signed a contract with Rogers Communications (TSX:RCI.A) to provide its programming on the company's wireless, cable and Internet platforms.

Company shares fell five cents to $6.45 on the Toronto Stock Exchange.

Receive the latest automotive news by email!

Enter your email address:


Find the new car you want on cars.com

Related news
Canadian Satellite Radio Holdings Inc. continues to aim for one million subscribers by 2010 after ``what can only be described as an incredible year'' since it launched the XM Canada ...
TORONTO (CP) _ As Canadians grapple with the choice between satellite radio providers Sirius and XM, automaker Subaru as usual is going its own way and has chosen both, but in different ...
TORONTO (CP) _ Auto loan provider VFC Inc. (TSX:VFC) has posted a 65 per cent profit boost in its latest fourth quarter on the heels of a $326-million takeover offer by TD ...
TORONTO (CP) _ TD Bank Financial Group (TSX:TD) declared victory Wednesday in its $326-million takeover of VFC Inc. after about 90 per cent of the used-car loan company's shareholders tendered into its bid. The ...
TORONTO (CP) _ Car loan company VFC Inc. (TSX: VFC), which endorsed a $326-million takeover bid by TD Bank last week, has signed up General Motors Acceptance Corp. ...
Earth Day, Every Day: Dagenham Windturbines Ford continues to reduce environmental footprint by improving the efficiency of its global manufacturing operations. Since 2000, Ford has ...
BMW will continue to offer SIRIUS as a factory option with a one-year bundled subscription Woodcliff Lake, NJ - November 10, 2008... BMW has extended its relationship with SIRIUS XM Radio ...
DETROIT (AP) _ Coming soon to a minivan near you: Satellite television. DaimlerChrysler AG's Chrysler Group on Thursday announced limited satellite TV service for its 2008 Dodge and Chrysler minivans ...

Best Investment Newsletter

- 46% in 2008

- invest in the best performing US stocks only and sell them when the uptrend is over

- very easy to follow, simple buy/sell signals

- no need to have investing or trading experience

Find More Now!


Canadian Satellite Radio Holdings reduces Q2 loss
> © 2006-2011 AutoNews24h.com except where otherwise noted