Earnings on Tap
After the close today, Sirius Satellite Radio (SIRI:Nasdaq) is scheduled to report earnings and we wanted to offer readers a quick preview on what to expect. Shares were recently trading 4% higher on the day at $2.85.According to consensus estimates, Sirius is expected to report a first-quarter loss of 7 cents per share on revenue of $272.3 million. The company is expected to announce between 370,000 and 400,000 new subscribers, which will bring total subscribers up to roughly 8.7 million.
The quarter is likely to be overshadowed by any news relating to Sirius' merger plans with XM Satellite Radio (XMSR:Nasdaq). The deal -- which was approved by the Department of Justice back on March 24 -- is still awaiting final approval by the Federal Communications Commission. The decision has taken much longer than the Street anticipated. Management will likely provide an update on these proceedings during the conference call, which is scheduled for 4:30 p.m. EDT.
Some others points of interest include ARPU (average revenue per user) -- which fell below estimates last quarter -- EBITDA (earnings before interest, taxes, depreciation and amortization) projections (as Sirius expects EBITDA to be positive in 2009) and OEM (original equipment manufacturer) growth.
Regards,
Frank Curzio & the Stocks Under $10 Investment Team
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Recent Actions
With 11% of the S&P 500 companies now trading below $11, here's where we've got our eyes trained.
10/07/08 - 10:44 AM EDTThis selloff has created attractive entry points for several of our model portfolio names, but we're holding off on any moves until the market stabilizes.
10/06/08 - 11:39 AM EDTThough we are seeing some investment opportunities, we will avoid taking action until the bailout issue is resolved.
10/03/08 - 10:58 AM EDTWeekly Roundups
The continued uncertainty has made this a stockpicker's market, and we plan to put much of our cash to work in the coming weeks.
10/03/08 - 04:40 PM EDTWe increased our stake in one model portfolio holding this week while monitoring several names that are poised to benefit from the market's current turmoil.
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