# XM: On Track for 5.5 Million at Year-End



## Chris Blount (Jun 22, 2001)

Executives at XM Satellite Radio said the company is on track to meet its goal of 5.5 million customers at the end of the year.

That's the message they delivered during a conference call Wednesday highlighting results for the first quarter, in which the company took its subscriber count to 3.77 million. XM also reported a first quarter net loss of $119.9 million, which it narrowed from $170.1 million recorded during first quarter 2004.

During the call, XM President and CEO Hugh Panero said the company plans an aggressive marketing and promotion push during the coming months, taking advantage of a strong selling season tied around Father's Day and spring graduation. Panero also boasted about XM's relationships with vehicle manufacturers, including the company's deal with Hyundai in which the car maker will include XM service in all its models beginning in 2006.

Another big surprise for XM: The company reported that SAC (subscriber acquisition costs) fell to $52 for first quarter 2005, from $67 for the same period in 2004.

http://www.skyreport.com (Used with permission)


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