1.78 ????

eh sì, per fortuna ieri le ho mollate a 2,00.

Vanni
"Caggiafà" <picleo@libero.it> ha scritto nel messaggio
news:W37Ya.37840$sj6.838714@tornado.fastwebnet.it. ..
> 1.78 ????

"Caggiafà" <picleo@libero.it> ha scritto nel messaggio
news:W37Ya.37840$sj6.838714@tornado.fastwebnet.it. ..
> 1.78 ????
NEW YORK, Aug. 6 /PRNewswire-FirstCall/ -- SIRIUS (Nasdaq: SIRI), known
for delivering the very best in commercial-free music and premium audio
entertainment, today announced its second quarter 2003 financial and
operating
results. The company previously announced a major milestone during the
quarter, when it reached 100,000 subscribers on June 20. SIRIUS ended the
second quarter on June 30, 2003 with 105,186 subscribers, an increase of 55%
during the quarter.



"This continued growth in SIRIUS subscribers confirms that we are getting
traction in the marketplace, and that our commercial-free music programming
is
gaining a wider audience," said Joseph P. Clayton, President and CEO of
SIRIUS. "We were able to reach our subscriber target even without the
benefit
of the new transportable products. Now that these 'Plug &amp; Play'
receivers are
becoming more available in retail stores, we expect the pace to pick up even
more."





During the second quarter, SIRIUS completed two major financing
transactions which eliminated the company's previously stated funding gap,
and
added approximately $357 million in cash, giving the company added financial
flexibility.





"I am excited to have joined SIRIUS at such a pivotal time in its
history," said David Frear, SIRIUS' new Executive Vice President and Chief
Financial Officer. "In less than four months, SIRIUS has transformed itself
to a company that is fully-funded with $560 million in cash. With very
little
debt, our balance sheet is clearly the strongest in this new and exciting
industry."





In recent weeks, SIRIUS introduced its transportable "Plug &amp; Play"
products in the retail marketplace. These products from Kenwood and
Audiovox
are now flowing into stores, and that volume will continue to increase in
the
coming months.





SIRIUS also recently announced several new initiatives in the specialty
markets sector, including agreements with Avionics Innovations, Formula
Boats
and Winnebago.





SECOND QUARTER 2003 VERSUS SECOND QUARTER 2002





For the second quarter of 2003, SIRIUS recognized total revenue of
$2.1 million, compared to $70 thousand for the second quarter of 2002.
SIRIUS
reported a loss from operations of $(109.8) million for the second quarter
of
2003, compared to a loss from operations of $(89.9) million for the second
quarter of 2002. SIRIUS' EBITDA loss for the second quarter of 2003 was
$(86.3) million, compared with $(67.8) million in the second quarter of
2002.
The EBITDA loss for the second quarter of 2003 included a $14.5 million
non-cash charge associated with the disposal of SIRIUS' previous subscriber
management system.





SIRIUS reported a net loss applicable to common stockholders of
$(111.8) million, or $(0.12) per share, for the second quarter of 2003,
compared with a net loss applicable to common stockholders of
$(124.6) million, or $(1.62) per share, for the second quarter of 2002.





For the second quarter of 2003, average monthly revenue per subscriber, or
ARPU, was $7.91. Excluding the costs of mail-in rebate programs, ARPU for
the
second quarter of 2003 was $10.84.





FIRST HALF 2003 VERSUS FIRST HALF 2002





For the first half of 2003 SIRIUS recognized total revenue of
$3.7 million, compared to $103 thousand for the first half of 2002. SIRIUS
reported a loss from operations of $(208.9) million for the first half of
2003, compared to a loss from operations of $(140.6) million for the first
half of 2002. SIRIUS' adjusted EBITDA loss for the first half of 2003 was
$(161.4) million, compared with $(104.0) million in the first half of 2002.
SIRIUS' adjusted EBITDA loss for the first half of 2003 excludes a
$256.5 million gain in connection with the completion of the company's
restructuring in March 2003, and includes a $14.5 million non-cash charge
associated with the disposal of SIRIUS' previous subscriber management
system.





SIRIUS reported a net loss applicable to common stockholders of
$(60.0) million, or $(0.09) per share, for the first half of 2003, compared
with a net loss applicable to common stockholders of $(214.7) million, or
$(2.85) per share, for the first half of 2002. Included in net income
applicable to common stockholders for the first half of 2003 was a
$256.5 million gain in connection with the completion of the company's
restructuring in March 2003, and a deemed dividend of $79.5 million
associated
with the elimination of its convertible preferred stock in March 2003.





For the first half of 2003, ARPU was $8.94. Excluding the costs of
mail-in rebate programs, ARPU for the first half of 2003 was $10.85.





(Selected Balance Sheet Data and Statement of Operations follow).





SIRIUS defines adjusted EBITDA loss as net loss before interest and
investment income, interest expense, depreciation expense and debt
restructuring. This definition of adjusted EBITDA may not be comparable to
similarly titled measures of other companies. Adjusted EBITDA is not a
measure of financial performance under accounting principles generally
accepted in the United States. We have raised and invested large amounts of
capital to fund the completion of our system; as a result, our results of
operations include significant charges for depreciation and interest
expense.
In addition, we have recognized a gain associated with the restructuring of
our debt. Adjusted EBITDA, which excludes these items, provides a basis to
measure our operating performance, apart from the expenses associated with
our
physical plant or capital structure. Adjusted EBITDA should not be
considered
in isolation or as a substitute for operating loss, cash flow from operating
activities or other measures of performance defined by accounting principles
generally accepted in the United States. A reconciliation of adjusted
EBITDA
loss is presented on the attachment.





SIRIUS defines average monthly revenue per subscriber, or ARPU, as the
total earned subscription revenue and activation revenue during the period,
over the daily weighted average number of subscribers for the period. ARPU
is
not a measure of financial performance under accounting principles generally
accepted in the United States and should not be considered in isolation or
as
a substitute for measures of performance prepared in accordance with
accounting principles generally accepted in the United States.




SIRIUS Satellite Radio Inc.
Financial Highlights
(In thousands, except per share and subscriber data)
(Unaudited)

For the Three For the Six
Months Ended Months Ended
June 30, June 30,
2003 2002 2003 2002
Statement of Operations:
Subscriber revenue,
net of mail-in rebates $2,029 $50 $3,583 $54
Advertising revenue,
net of agency fees 27 20 44 49
Other revenue 17 -- 37 --
Total revenue 2,073 70 3,664 103
Operating expenses:
Cost of services:
Satellite and
transmission 7,688 8,450 15,555 17,207
Programming
and content 7,639 4,125 14,213 7,908
Customer service
and billing 16,320 1,882 18,522 3,724
Sales and marketing 39,516 30,901 84,856 46,560
General and
administrative 12,464 8,588 21,558 16,128
Research and development 4,904 13,425 9,887 21,138
Depreciation expense 23,463 22,099 47,563 36,580
Non-cash stock
compensation
(benefit)/expense (123) 491 436
(8,533)
Total operating
expenses 111,871 89,961 212,590 140,712

Loss from operations (109,798) (89,891) (208,926)
(140,609)

Other income (expense):
Debt restructuring -- -- 256,538 --
Interest and
investment income 1,327 1,517 2,670 3,517
Interest expense,
net of amounts
capitalized (3,365) (24,893) (22,030)
(55,086)
Total other income
(expense) (2,038) (23,376) 237,178
(51,569)

Net income (loss) (111,836) (113,267) 28,252
(192,178)

Preferred stock dividends -- (11,165) (8,574)
(22,207)
Preferred stock
deemed dividends -- (171) (79,634)
(342)

Net loss applicable
to common stockholders $(111,836) $(124,603) $(59,956)
$(214,727)

Net loss per share
applicable to common
stockholders
(basic and diluted) $(0.12) $ (1.62) $(0.09)
$(2.85)
Weighted average common
shares outstanding
(basic and diluted) 931,720 76,715 631,421 75,296

Reconciliation of net
income (loss) to
Adjusted EBITDA:
Net income (loss)
as reported $(111,836) $(113,267) $28,252
$(192,178)
Add back non-EBITDA
items included
in net loss:
Depreciation expense 23,463 22,099 47,563 36,580
Interest and
investment income (1,327) (1,517) (2,670)
(3,517)
Interest expense,
net of amounts
capitalized 3,365 24,893 22,030 55,086
Debt restructuring -- -- (256,538) --
Adjusted EBITDA $(86,335) $(67,792) $(161,363)
$(104,029)


June 30, December 31,
2003 2002
Select Balance Sheet Data:
Cash, cash equivalents
and marketable securities $560,093 $173,702
Restricted investments 7,200 7,200
Working capital 524,050 151,289
Total assets 1,660,830 1,340,940
Long-term debt, net of current portion 259,570 670,357
Accrued interest, net of current portion -- 46,914
Total liabilities 324,855 772,941
Convertible preferred stock -- 531,153
Accumulated deficit (899,227) (927,479)
Stockholders' equity 1,335,975 36,846

Other Data:
Subscribers (end of period) 105,186 29,947


About SIRIUS




SIRIUS is the only satellite radio service bringing listeners more than
100 streams of the best music and entertainment coast-to-coast. SIRIUS
offers
60 music streams with no commercials, along with over 40 world-class sports,
news and entertainment streams for a monthly subscription fee of only
$12.95,
with greater savings for upfront payments of multiple months or a year or
more. Stream Jockeys create and deliver uncompromised music in virtually
every genre to our listeners 24 hours a day. Satellite radio products
bringing SIRIUS to listeners in the car, truck, home, RV and boat are
manufactured by Kenwood, Panasonic, Clarion and Audiovox, and are available
at
major retailers including Circuit City, Best Buy, Car Toys, Good Guys,
Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is the leading
OEM satellite radio provider, with exclusive partnerships with
DaimlerChrysler, Ford and BMW. Automotive brands currently offering SIRIUS
radios in select new car models include BMW, MINI, Chrysler, Dodge, Jeep(R),
Nissan, Infiniti, Mazda and Audi. Automotive brands that have announced
plans
to offer SIRIUS in select models include Ford, Lincoln, Mercury,
Mercedes-Benz, Jaguar, Volvo, Volkswagen, Land Rover and Aston Martin.





Click on sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer
or car dealer in your area.





Any statements that express, or involve discussions as to, expectations,
beliefs, plans, objectives, assumptions, future events or performance with
respect to SIRIUS Satellite Radio Inc. are not historical facts and may be
forward-looking and, accordingly, such statements involve estimates,
assumptions and uncertainties which could cause actual results to differ
materially from those expressed in any forward-looking statements.
Accordingly, any such statements are qualified in their entirety by
reference
to the factors discussed in our Annual Report on Form 10-K for the year
ended
December 31, 2002 filed with the Securities and Exchange Commission. Among
the
key factors that have a direct bearing on our results of operations are: our
dependence upon third parties to manufacture, distribute, market and sell
SIRIUS radios and components for those radios; the unproven market for our
service; our competitive position and any events which affect the useful
life
of our satellites.




SOURCE SIRIUS
-0- 08/06/2003
/CONTACT: Media and Investors, Jim Collins, +1-212-901-6422, or

jcollins@siriusradio.com

, or Investors, Cheryl Cramer, +1-212-901-6466, or

ccramer@siriusradio.com

, both of SIRIUS; or Media, Thomas Meyer, of PR21,
+1-310-566-2285, or

Thomas.Meyer@pr21.com

, for SIRIUS /
/Web site:

http://www.sirius.com

/
(SIRI)

CO: SIRIUS
ST: New York
IN: ENT RAD MUS
SU: ERN

AL-BE
-- NYW055 --
2452 08/06/2003 09:00 EDT

http://www.prnewswire.com





Companies or Securities discussed in this article:
Symbol Name
NASDAQ:SIRI Sirius Satellite Radio Inc.

e allora? che vor dì?

Vanni

"StudioInvestimenti.it" <topscalper@email.it> ha scritto nel messaggio
news:Sl7Ya.229482$lK4.6860756@twister1.libero.it.. .
> "Caggiafà" <picleo@libero.it> ha scritto nel messaggio
> news:W37Ya.37840$sj6.838714@tornado.fastwebnet.it. ..
> > 1.78 ????
> NEW YORK, Aug. 6 /PRNewswire-FirstCall/ -- SIRIUS (Nasdaq: SIRI), known
> for delivering the very best in commercial-free music and premium audio
> entertainment, today announced its second quarter 2003 financial and
> operating
> results. The company previously announced a major milestone during the
> quarter, when it reached 100,000 subscribers on June 20. SIRIUS ended the
> second quarter on June 30, 2003 with 105,186 subscribers, an increase of
55%
> during the quarter.
> "This continued growth in SIRIUS subscribers confirms that we are getting
> traction in the marketplace, and that our commercial-free music
programming
> is
> gaining a wider audience," said Joseph P. Clayton, President and CEO of
> SIRIUS. "We were able to reach our subscriber target even without the
> benefit
> of the new transportable products. Now that these 'Plug &amp; Play'
> receivers are
> becoming more available in retail stores, we expect the pace to pick up
even
> more."
> During the second quarter, SIRIUS completed two major financing
> transactions which eliminated the company's previously stated funding gap,
> and
> added approximately $357 million in cash, giving the company added
financial
> flexibility.
> "I am excited to have joined SIRIUS at such a pivotal time in its
> history," said David Frear, SIRIUS' new Executive Vice President and Chief
> Financial Officer. "In less than four months, SIRIUS has transformed
itself
> to a company that is fully-funded with $560 million in cash. With very
> little
> debt, our balance sheet is clearly the strongest in this new and exciting
> industry."
> In recent weeks, SIRIUS introduced its transportable "Plug &amp; Play"
> products in the retail marketplace. These products from Kenwood and
> Audiovox
> are now flowing into stores, and that volume will continue to increase in
> the
> coming months.
> SIRIUS also recently announced several new initiatives in the specialty
> markets sector, including agreements with Avionics Innovations, Formula
> Boats
> and Winnebago.
> SECOND QUARTER 2003 VERSUS SECOND QUARTER 2002
> For the second quarter of 2003, SIRIUS recognized total revenue of
> $2.1 million, compared to $70 thousand for the second quarter of 2002.
> SIRIUS
> reported a loss from operations of $(109.8) million for the second quarter
> of
> 2003, compared to a loss from operations of $(89.9) million for the second
> quarter of 2002. SIRIUS' EBITDA loss for the second quarter of 2003 was
> $(86.3) million, compared with $(67.8) million in the second quarter of
> 2002.
> The EBITDA loss for the second quarter of 2003 included a $14.5 million
> non-cash charge associated with the disposal of SIRIUS' previous
subscriber
> management system.
> SIRIUS reported a net loss applicable to common stockholders of
> $(111.8) million, or $(0.12) per share, for the second quarter of 2003,
> compared with a net loss applicable to common stockholders of
> $(124.6) million, or $(1.62) per share, for the second quarter of 2002.
> For the second quarter of 2003, average monthly revenue per subscriber, or
> ARPU, was $7.91. Excluding the costs of mail-in rebate programs, ARPU for
> the
> second quarter of 2003 was $10.84.
> FIRST HALF 2003 VERSUS FIRST HALF 2002
> For the first half of 2003 SIRIUS recognized total revenue of
> $3.7 million, compared to $103 thousand for the first half of 2002.
SIRIUS
> reported a loss from operations of $(208.9) million for the first half of
> 2003, compared to a loss from operations of $(140.6) million for the first
> half of 2002. SIRIUS' adjusted EBITDA loss for the first half of 2003 was
> $(161.4) million, compared with $(104.0) million in the first half of
2002.
> SIRIUS' adjusted EBITDA loss for the first half of 2003 excludes a
> $256.5 million gain in connection with the completion of the company's
> restructuring in March 2003, and includes a $14.5 million non-cash charge
> associated with the disposal of SIRIUS' previous subscriber management
> system.
> SIRIUS reported a net loss applicable to common stockholders of
> $(60.0) million, or $(0.09) per share, for the first half of 2003,
compared
> with a net loss applicable to common stockholders of $(214.7) million, or
> $(2.85) per share, for the first half of 2002. Included in net income
> applicable to common stockholders for the first half of 2003 was a
> $256.5 million gain in connection with the completion of the company's
> restructuring in March 2003, and a deemed dividend of $79.5 million
> associated
> with the elimination of its convertible preferred stock in March 2003.
> For the first half of 2003, ARPU was $8.94. Excluding the costs of
> mail-in rebate programs, ARPU for the first half of 2003 was $10.85.
> (Selected Balance Sheet Data and Statement of Operations follow).
> SIRIUS defines adjusted EBITDA loss as net loss before interest and
> investment income, interest expense, depreciation expense and debt
> restructuring. This definition of adjusted EBITDA may not be comparable
to
> similarly titled measures of other companies. Adjusted EBITDA is not a
> measure of financial performance under accounting principles generally
> accepted in the United States. We have raised and invested large amounts
of
> capital to fund the completion of our system; as a result, our results of
> operations include significant charges for depreciation and interest
> expense.
> In addition, we have recognized a gain associated with the restructuring
of
> our debt. Adjusted EBITDA, which excludes these items, provides a basis
to
> measure our operating performance, apart from the expenses associated with
> our
> physical plant or capital structure. Adjusted EBITDA should not be
> considered
> in isolation or as a substitute for operating loss, cash flow from
operating
> activities or other measures of performance defined by accounting
principles
> generally accepted in the United States. A reconciliation of adjusted
> EBITDA
> loss is presented on the attachment.
> SIRIUS defines average monthly revenue per subscriber, or ARPU, as the
> total earned subscription revenue and activation revenue during the
period,
> over the daily weighted average number of subscribers for the period.
ARPU
> is
> not a measure of financial performance under accounting principles
generally
> accepted in the United States and should not be considered in isolation or
> as
> a substitute for measures of performance prepared in accordance with
> accounting principles generally accepted in the United States.
> SIRIUS Satellite Radio Inc.
> Financial Highlights
> (In thousands, except per share and subscriber data)
> (Unaudited)
> For the Three For the Six
> Months Ended Months Ended
> June 30, June 30,
> 2003 2002 2003
2002
> Statement of Operations:
> Subscriber revenue,
> net of mail-in rebates $2,029 $50 $3,583
$54
> Advertising revenue,
> net of agency fees 27 20 44
49
> Other revenue 17 --
37 --
> Total revenue 2,073 70 3,664
103
> Operating expenses:
> Cost of services:
> Satellite and
> transmission 7,688 8,450 15,555
17,207
> Programming
> and content 7,639 4,125 14,213
7,908
> Customer service
> and billing 16,320 1,882 18,522
3,724
> Sales and marketing 39,516 30,901 84,856
46,560
> General and
> administrative 12,464 8,588 21,558
16,128
> Research and development 4,904 13,425 9,887
21,138
> Depreciation expense 23,463 22,099 47,563
36,580
> Non-cash stock
> compensation
> (benefit)/expense (123) 491 436
> (8,533)
> Total operating
> expenses 111,871 89,961 212,590
140,712
> Loss from operations (109,798) (89,891) (208,926)
> (140,609)
> Other income (expense):
> Debt restructuring -- --
538 --
> Interest and
> investment income 1,327 1,517 2,670
3,517
> Interest expense,
> net of amounts
> capitalized (3,365) (24,893) (22,030)
> (55,086)
> Total other income
> (expense) (2,038) (23,376) 237,178
> (51,569)
> Net income (loss) (111,836) (113,267) 28,252
> (192,178)
> Preferred stock dividends -- (11,165) (8,574)
> (22,207)
> Preferred stock
> deemed dividends -- (171) (79,634)
> (342)
> Net loss applicable
> to common stockholders $(111,836) $(124,603) $(59,956)
> $(214,727)
> Net loss per share
> applicable to common
> stockholders
> (basic and diluted) $(0.12) $ (1.62) $(0.09)
> $(2.85)
> Weighted average common
> shares outstanding
> (basic and diluted) 931,720 76,715 631,421
75,296
> Reconciliation of net
> income (loss) to
> Adjusted EBITDA:
> Net income (loss)
> as reported $(111,836) $(113,267) $28,252
> $(192,178)
> Add back non-EBITDA
> items included
> in net loss:
> Depreciation expense 23,463 22,099 47,563
36,580
> Interest and
> investment income (1,327) (1,517) (2,670)
> (3,517)
> Interest expense,
> net of amounts
> capitalized 3,365 24,893 22,030
55,086
> Debt restructuring -- --
,538) --
> Adjusted EBITDA $(86,335) $(67,792) $(161,363)
> $(104,029)
> June 30, December
31,
> 2003 2002
> Select Balance Sheet Data:
> Cash, cash equivalents
> and marketable securities $560,093 $173,702
> Restricted investments 7,200 7,200
> Working capital 524,050 151,289
> Total assets 1,660,830 1,340,940
> Long-term debt, net of current portion 259,570 670,357
> Accrued interest, net of current portion -- 46,914
> Total liabilities 324,855 772,941
> Convertible preferred stock -- 531,153
> Accumulated deficit (899,227) (927,479)
> Stockholders' equity 1,335,975 36,846
> Other Data:
> Subscribers (end of period) 105,186 29,947
> About SIRIUS
> SIRIUS is the only satellite radio service bringing listeners more than
> 100 streams of the best music and entertainment coast-to-coast. SIRIUS
> offers
> 60 music streams with no commercials, along with over 40 world-class
sports,
> news and entertainment streams for a monthly subscription fee of only
> $12.95,
> with greater savings for upfront payments of multiple months or a year or
> more. Stream Jockeys create and deliver uncompromised music in virtually
> every genre to our listeners 24 hours a day. Satellite radio products
> bringing SIRIUS to listeners in the car, truck, home, RV and boat are
> manufactured by Kenwood, Panasonic, Clarion and Audiovox, and are
available
> at
> major retailers including Circuit City, Best Buy, Car Toys, Good Guys,
> Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is the
leading
> OEM satellite radio provider, with exclusive partnerships with
> DaimlerChrysler, Ford and BMW. Automotive brands currently offering
SIRIUS
> radios in select new car models include BMW, MINI, Chrysler, Dodge,
Jeep(R),
> Nissan, Infiniti, Mazda and Audi. Automotive brands that have announced
> plans
> to offer SIRIUS in select models include Ford, Lincoln, Mercury,
> Mercedes-Benz, Jaguar, Volvo, Volkswagen, Land Rover and Aston Martin.
> Click on sirius.com to listen to SIRIUS live, or to find a SIRIUS retailer
> or car dealer in your area.
> Any statements that express, or involve discussions as to, expectations,
> beliefs, plans, objectives, assumptions, future events or performance with
> respect to SIRIUS Satellite Radio Inc. are not historical facts and may be
> forward-looking and, accordingly, such statements involve estimates,
> assumptions and uncertainties which could cause actual results to differ
> materially from those expressed in any forward-looking statements.
> Accordingly, any such statements are qualified in their entirety by
> reference
> to the factors discussed in our Annual Report on Form 10-K for the year
> ended
> December 31, 2002 filed with the Securities and Exchange Commission. Among
> the
> key factors that have a direct bearing on our results of operations are:
our
> dependence upon third parties to manufacture, distribute, market and sell
> SIRIUS radios and components for those radios; the unproven market for our
> service; our competitive position and any events which affect the useful
> life
> of our satellites.
> SOURCE SIRIUS
> -0- 08/06/2003
> /CONTACT: Media and Investors, Jim Collins, +1-212-901-6422, or
> jcollins@siriusradio.com
> , or Investors, Cheryl Cramer, +1-212-901-6466, or
> ccramer@siriusradio.com
> , both of SIRIUS; or Media, Thomas Meyer, of PR21,
> +1-310-566-2285, or
> Thomas.Meyer@pr21.com
> , for SIRIUS /
> /Web site:
> http://www.sirius.com
> /
> (SIRI)
> CO: SIRIUS
> ST: New York
> IN: ENT RAD MUS
> SU: ERN
> AL-BE
> -- NYW055 --
> 2452 08/06/2003 09:00 EDT
> http://www.prnewswire.com
> Companies or Securities discussed in this article:
> Symbol Name
> NASDAQ:SIRI Sirius Satellite Radio Inc.