XM Satellite Radio Holdings Inc.
1500 Eckington Pl. NE
Washington, D.C. 20002
www.xmradio.com Year founded: 1992 Industry: Media Revenue: $91.78 Million Net Income/Loss: ($584,535,000.00) Earnings per share: ($4.83) Dividend: n/a Stockholder equity: $532.89 Million Auditor: KPMG LLP Stock: XMSR Assets: $1.53 Billion Market capitalization: $5.25 Billion 52-week high: 30.96 4/2/2004 52-week low: 6.27 4/15/2003 President and CEO: Hugh Panero CFO: Joseph J. Euteneuer Employees: 425 Local employees: 400 Description: XM Satellite Radio is the nation's largest satellite radio service, with more than 100 digital-quality channels coast to coast. XM subscribers pay $10 a month for two Boeing satellites, "XM Rock" and "XM Roll," to beam a wide array of music and talk channels into specially equipped radios at home or in their cars. Developments: XM's stock and subscribers skyrocketed in 2003 even as the company continued to bleed red ink. The stock had been in the $45 range before the tech bubble burst, then sank to about $2 a share. Last year the shares came roaring back, leaping almost 900 percent, to $26.29, by the end of the year, making it the area's fastest-growing stock. A major reason was the surge in the service's popularity. More than a million people signed up in 2003 alone as GM, Honda and Acura all added the service to their new models, bringing the total to 1.4 million subscribers. For the 2004 model year XM is available on more than 80 models. The company hopes to more than double subscribership this year. All those new subscribers pushed revenue to almost $92 million last year from more than $20 million in 2002. But losses widened: XM lost $584.5 million compared with $495 million in 2002. High costs were to blame, the company said, though it said costs to acquire each new subscriber fell in 2003 to $137 from $425.
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