SIRIUS XM Radio Inc. Presents at 2010 Media, Communications and Entertainment Conference, Sep-15-2010 08:45 AM. Venue: Newport Beach, California, United States. Speakers: Mel Karmazin, Chief Executive Officer and Director.

SIRIUS XM Radio Inc. expected to report Q3 2010 results on November 4, 2010. This event was calculated by Capital IQ (Created on August 5, 2010).

SIRIUS XM Radio Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2010. For the quarter, the company reported On a GAAP basis, for the second quarter of 2010 and 2009, net income attributable to common stockholders was $15.3 million and net loss attributable to common stockholders of $159.6 million, respectively, or $0.00 and net loss attributable to common stockholders of $0.04 per diluted share, on revenue of $699.8 million and $590.8 million, respectively. The company's reported net income (loss) attributable to common stockholders included losses on extinguishment of debt in the second quarter of 2010 and 2009 of $31.9 million and $107.8 million, respectively. The company's free cash flow jumped to $108 million in the quarter, up from $13 million a year ago. Free Cash Flow increased principally as a result of improvements in adjusted EBITDA as well as increases in trade payables related to subsidies and commissions associated with the increase in subscriber base and growth in deferred revenue; partially offset by growth in receivables from subscribers, radio manufacturers and distributors and the payment of related party obligations and accrued interest. For the quarter, the company reported income from operations of $125.6 million, income before income taxes of $16.7 million, net income of $15.3 million compared to the income from operations of $37.2 million, loss before income taxes of $158.5 million, net loss of $159.6 million for the same period a year ago. In addition, capital expenditures in the three months ended June 30, 2010 increased by $13.7 million compared to the three months ended June 30, 2009, primarily due to increased satellite and related launch vehicle spending. Adjusted EBITDA was $154.3 million compared to $132.2 million for the same period a year ago. For the six months ended June 30, 2010 and 2009, the company reported net income attributable to common stockholders was $56.9 million and net loss attributable to common stockholders $398.5 million, respectively or $0.01 and loss attributable to common stockholders of $0.11 per diluted share, on revenue of $1.36 billion and $1.18 billion, respectively. For the six months, the company reported income from operations of $250.8 million, income before income taxes of $59.5 million, net income of $56.9 million compared to the income from operations of $78.3 million, loss before income taxes of $210.1 million, net loss of $212.3 million for the same period a year ago. Net cash provided by operating activities was $140.99 million compared to $136.9 million for the same period a year ago. The company spent $169.3 million compared to $127.8 million for the same period a year ago. Adjusted EBITDA was $312.1 million compared to $241.1 million for the same period a year ago. The company is increasing guidance for the full year 2010, projecting adjusted revenue will approach $2.8 billion and free cash flow will approach $150 million. The company continues to target approximately $575 million of adjusted EBITDA in 2010. The company said its adjusted EBITDA for the year will grow approximately 25% and will also end at a record level. The company also said its adjusted EBITDA will be over $700 million better than it was just two years ago.