XM Boosts Revenue

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XM Satellite Radio reported $257.1 million in revenue for the fourth quarter of 2006, a 45% gain compared with the $177.1 million in total revenue it reported this time last year.

The company, which agreed last week to merge with rival Sirius Satellite Radio, reduced its subscriber-acquisition cost to $70 per customer versus $89 during the fourth quarter of 2005.

XM also narrowed its adjusted earnings before interest, taxes, debt and amortization loss to $69.8 million during the fourth quarter, compared with an adjusted EBITDA loss of $172.9 million during the same period in 2005.

XM said it added 1.7 million net new subscribers in 2006, boosting its total customer count to 7.63 million.

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