Sirius drives into profit

Sirius XM Radio thrown towards the black last quarter with profits of $71 million versus an $81 million loss last year on greater revenue, lower costs and minus several hits to earnings it required last year. Revenue rose 4% to $784 million, a little shy of Wall Street's anticipation. The shares were lower 1.83% at $2.15 in pre-market trade. The Gotham-based satellite radio group brought by Mel Karmazin added 542,966 internet customers -Up 65%. It ended the entire year with 21.9 million subs. Satellite radio is set up in 65% of recent cars with free monthly subscriptions offered for any period. Having to pay customer additions were 374,432, up 7%. Sirius stated it needs to possess 23.two million subs by year-finish 2012. It forecasted full-year revenue of $3.3 billion and funds flow of $700 million. Sirius elevated its cost this The month of january the very first time but stated it's seen modest fallout to date. ''With auto sales likely to increase in 2012, and what seems to become merely a modest rise in churn connected with this The month of january cost increase, we be prepared to grow our internet new customers by roughly 1.3 million this year, ongoing our strong multi-year history of customer growth,'' stated Karmazin inside a statement. Contact the range newsroom at news@variety.com