XM Satellite Radio reports a loss of $162.9 million, or $1.12 per share, for the fourth quarter ended Dec. 31, 2003. Revenue was $33.5 million.
A year earlier, the Washington, D.C.-based company posted a loss of $155.9 million, or $1.76 per share, on revenue of $9 million.
Earnings before interest, taxes, depreciation and amortization were negative $95.5 million, vs. a loss of $97.3 million last year. Subscribers spiked to 430,580 in the fourth quarter, vs. 145,605 in fourth-quarter 2002. XM had 1.36 million total subscribers as of Dec. 31.
The company’s net loss for the full-year 2003 was $584.5 million, or $4.83 per share, vs. a loss of $495 million, or $5.95 per share, in 2002. Revenue for 2003 climbed to $91.8 million from $20.2 million a year earlier.
Stock in XM was trading down 81 cents at $22.64 in afternoon trading.