|
||
|
Worldspace Reports Subscriber Base Increase if 150%; Revenues Increases 140% to $1.9-M |
||
|
SILVER SPRING, Md., Aug. 10, 2006/Satnews Daily/ ― Worldspace Satellite Radio (NASDAQ:WRSP) announced on Wednesday that that the company added 6,528 net subscribers during the second quarter of 2006, ending the quarter with 159,965 subscribers, 150 percent higher than second quarter 2005 ending subscribers of 63,930.
In India, the company added 7,774 net subscribers during the second quarter of 2006, ending the quarter with 119,497 subscribers, 328 percent higher than second quarter 2005 ending subscribers of 27,933.
For the second quarter of 2006, Worldspace reported revenues of approximately $3.8 million, representing a 61 percent increase compared with revenues of approximately $2.3 million for the second quarter of 2005. Subscription revenue grew 141 percent to over $1.9 million for the second quarter of 2006 compared with subscription revenue of approximately $0.8 million for the second quarter of 2005. On a sequential basis, Worldspace said subscription revenues were higher than the first quarter of 2006 by over $300,000 or over 20 percent, and overall revenues in the second quarter of 2006 were 8 percent higher than the $3.5 million in the previous quarter.
Worldspace recorded a net loss for the second quarter of 2006 of $36.7 million, or $0.98 per share, compared with a net loss of $22 million, or $0.95 per share for the second quarter of 2005. Sequentially, the net loss increased 25.6 percent from the first quarter 2006 results of $29.2 million, or $0.79 per share due to a reduced income tax benefit.
Worldspace had an EBITDA (earnings before interest income, interest expense, income taxes, depreciation and amortization) loss of $30.8 million for the second quarter of 2006, compared with an EBITDA loss of $12.0 million for the second quarter of 2005, and an EBITDA loss of $31.2 million in the first quarter of 2006.
Recent Stories: WorldSpace Commissions Terrestrial Repeater Prototypes for European Mobile Services WorldSpace Appoints Co-Chief Operating Officers WorldSpace Receives Approval for Satellite Radio Service in Italy |
||
