Sirius Xm Radio Inc. (SIRI) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Earnings Press Release
10-K Annual Report
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Sirius Xm Holdings Inc.
Ticker: SIRI CIK: 908937

Exhibit 99.1

(SiriusXM LOGO)

SiriusXM Reports 2012 Results


	•	Subscribers Grow to a Record 23.9 Million
	•	Record Revenue of $3.4 Billion, Up 13%
	•	Net Income of $3.5 Billion Includes an Income Tax Benefit of $3.0 Billion
	•	Adjusted EBITDA Reaches a Record $920 Million, Up 26%
	•	Free Cash Flow Grows 71% to a Record $709 Million

NEW YORK – February 5, 2013 –

Sirius XM Radio (NASDAQ: SIRI)today announced fourth quarter and full year 2012 financial and operating results, including 2012 revenue of $3.4 billion, up 13% from 2011 revenue of $3.0 billion. Net income for 2012 and 2011 was $3.5 billion and $427 million, respectively, or $0.51 and $0.07 per diluted share, respectively. Net income for 2012 included a $3.0 billion income tax benefit and $133 million loss on extinguishment of debt. Adjusted EBITDA in 2012 was $920 million, up 26% from $731 million in 2011.

“Thanks to the outstanding team at SiriusXM, we capped a great 2012 with a strong fourth quarter, adding more than 500,000 net new subscribers and attaining outstanding revenue, adjusted EBITDA, and free cash flow. SiriusXM also returned capital to shareholders for the first time in the history of satellite radio through a $327 million special cash dividend in December. We are confident in our guidance for growth in 2013 and continue to be sharply focused on enhancing shareholder value, including through our recently announced common stock repurchase program that we are initiating this year,” said Jim Meyer, Chief Executive Officer, SiriusXM.

“We continue to broaden our Internet capabilities to expand the user experience and strengthen our in-vehicle technologies. We are thrilled to announce that our personalized radio feature, MySXM, is now in public beta testing and will be available to our Internet subscribers in the near future. We are committed to ensuring SiriusXM’s long-term leadership in audio and data services, particularly in vehicles, and we will do that by continuing to innovate and improve our technology, programming, and customer care,” noted Meyer.

Additional 2012 highlights include:


	•	Record post-merger subscriber growth. Net subscriber additions of 2.0 million in 2012 were higher than in any year since 2007, before the 2008 merger of Sirius and XM. Self-pay net subscriber additions improved by 36% year-over-year to nearly 1.7 million, resulting in an all-time high self-pay subscriber base of nearly 19.6 million. The total paid subscriber base rose to a record high 23.9 million. Total paid and unpaid trials were 6.1 million at year-end 2012.
	•	Churn and conversion remains stable. Self-pay monthly churn was 1.9% in 2012, unchanged from 2011. New vehicle consumer conversion rate was 45% in 2012, also unchanged from 2011.

The following information was filed by Sirius Xm Holdings Inc. (SIRI) on Tuesday, February 5, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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