Exhibit 99.1

(SIRIUSXM LOGO)

SiriusXM Reports 2011 Results

 

 

 

 

Subscribers Grow to Record 21.9 Million

 

Record Revenue of $3.01 Billion, Up 7% Over 2010

 

Adjusted EBITDA Reaches Record $731 Million, Up 17% Over 2010

 

Record Free Cash Flow of $416 Million, Up 98% Over 2010

 

2012 Adjusted EBITDA Guidance Raised to $875 Million

 

Company Projects 1.3 Million Net Subscriber Additions in 2012

NEW YORK – February 9, 2012 –

Sirius XM Radio (NASDAQ: SIRI) today announced full year 2011 financial and operating results, including revenue of $3.01 billion, up 7% over 2010 revenue of $2.82 billion, and adjusted EBITDA of $731 million, up 17% from $626 million in 2010.

“We are proud to announce that SiriusXM delivered another record-setting year in 2011, meeting or exceeding all of our guidance. Our strong content and subscriber focus helped set a post-merger record of 1.7 million net subscriber additions, and we achieved record levels of revenue, adjusted EBITDA and free cash flow. We expanded our adjusted EBITDA margins to 24% by tightly controlling costs and growing our revenue. Our improved profitability, coupled with lower capital expenditures, contributed to a substantial increase in our free cash flow,” noted Mel Karmazin, Chief Executive Officer, SiriusXM.

“In 2012, we expect to accelerate our revenue and adjusted EBITDA growth, and we project our free cash flow will jump by approximately 70% to $700 million. Our subscriber base will once again end this year at another all-time record high,” said Karmazin. “We continue to invest in improving the subscriber experience, all with the goal of keeping our subscribers engaged and entertained. All of us here at SiriusXM look forward to another fantastic year of subscriber growth and improved financial performance.”

Additional highlights from 2011 include:

 

 

 

 

Subscriber growth continues. Gross additions climbed 12% to an all-time high of 8.7 million, net subscriber additions improved by 20% to 1.7 million from 1.4 million in 2010, and the subscriber base rose to an all-time high of 21.9 million subscribers at year-end. Self-pay net additions were 1.2 million in 2011, up 24% from 1.0 million in 2010.



The following information was filed by Sirius Xm Holdings Inc. (SIRI) on Thursday, February 9, 2012 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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