Sirius Expects 25% Higher Sales for Quarter

Sirius Satellite Radio (SIRI Quote) announced preliminary results for its second quarter early Monday, saying it anticipates a 25% jump in both revenue and subscriber numbers from a year ago.

Sirius said that revenue for the second quarter 2008 should be approximately $283 million, up from $226 million in the same period in 2007. The Thomson Reuters average estimate currently stands at $283.9 million. Sirius also said that it will have an adjusted loss from operations of $24 million, narrowing from an adjusted loss of $79 million a year ago. The company did not provide data on a per-share basis.

Additionally, Sirius said its subscriber count rose 25% from a year earlier to 8.92 million. Retail subscribers were up 7% in the second quarter, while OEM subscribers, which include automobile installations, surged 53%. Monthly churn, a measure of how many subscribers left the service, decreased to 1.6% from 2.1% in the year-ago period, and the conversion rate is estimated to increase to 48% from 47% last year. ...