"Record" revenue at SiriusXM can't offset $4M loss

TORONTO – Despite an increase in both revenue and subscribers, Canadian Satellite Radio Holdings, parent of SiriusXM Canada, ended its third quarter with a $4.2 million loss. Revenue for the quarter ended May 31, 2012, was $64.6 million, up 8.1% from $59.7 million in the third quarter of 2011, while adjusted EBITDA increased 69.7% to $9.6 million from $5.6 million. The satellite radio provider added 214,300 new customers year-over-year to reach 2.1 million, and self-paying subscribers increased 13.4% to 1.5 million. "Our results to-date are a strong testament to the benefits of the merger”, said president and CEO Mark Redmond,...