|
||
|
Worldspace Reports Big Rise in Subscriber Base |
||
|
SILVER SPRING, Md., Nov. 10, 2006/Satnews Daily/ ― Worldspace Satellite Radio (NASDAQ:WRSP) added 16,866 net subscribers during the third quarter of 2006, ending the quarter with 176,831 subscribers or 136 percent higher than third quarter 2005.
In India, the company added 18,568 net subscribers during the third quarter of 2006, ending the quarter with 138,065 subscribers, 287 percent higher than third quarter 2005.
WorldSpace said revenues reached approximately $3.3 million during the quarter, representing a 42 percent increase compared with revenues of approximately $2.4 million for the third quarter of 2005. Subscription revenue grew 89 percent to $1.8 million for the third quarter of 2006 compared with subscription revenue of approximately $1 million for the third quarter of 2005.
But Worldspace admitted subscription revenues were 6 percent lower than the $1.9 million in the second quarter of 2006, and overall revenues in the third quarter of 2006 were 11 percent lower than the $3.8 million in the previous quarter. Second quarter of 2006 revenue numbers were augmented by approximately $0.2 million in "Other" revenue from a settlement with a broadcaster capacity lease, and approximately an additional $0.2 million of subscription revenue earned by the Kenya Institute of Education program.
WorldSpace said it posted a net loss for the third quarter of 2006 of $28.9 million, or $0.77 per share, compared with a net loss of $15.4 million, or $0.48 per share for the third quarter of 2005. But the company said sequentially, the net loss improved 21 percent from the second quarter 2006 results of $36.7 million, or $0.98 per share due to an increased income tax benefit.
WorldSpace had an EBITDA (earnings before interest income, interest expense, income taxes, depreciation and amortization) loss of $27.1 million for the third quarter of 2006, compared with an EBITDA loss of $29.1 million for the third quarter of 2005, and an EBITDA loss of $30.8 million in the second quarter of 2006.
Recent Stories: Worldspace Launches India's First National 24-Hour Marathi Radio Station Worldspace Offers 24-Hour Urdu Music Channel |
||
