[Satellite TODAY 08-07-09] Sirius XM Radio’s net loss grew from $83.9 million a year ago to $157 million in the 2009 second quarter, according to financial reports released Aug. 6.
    The gains was due to a one-time charges associated with paying off debt, a $24 million write-off for prepayments for future launch services attributable to the counterparty’s bankruptcy filing and charges relating to the acquisition of XM Satellite Radio.
    Despite the losses, Sirius XM reported second quarter total revenues at $608 million, a 1 percent increase from 2008. Second quarter subscription revenue was $577 million, up 3 percent from the previous year, despite a 1 percent decrease in total subscribers from the second quarter in 2008 to 18.4 million subscribers. The number of subscribers declined 185,999 from the close of the 2009 first quarter.
    Sirius XM said it cut operating expenses by 28 percent since it merged with XM, with income from operations at $132 million. “Just one year ago, combined operations produced negative adjusted income from operations of $61 million. This year our revenue increase in the second quarter, paired with a $187 million expense reduction, drove an improvement of approximately $193 million in adjusted income from operations to $132 million in second quarter 2009,” Sirius XM CEO Mel Karmazin said in a statement.
    Karmazin said his company is adjusting its full-year operational income guidance to over $400 Million from more than $350 million.

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