XM Canada cuts losses a little as subscribers grow

TORONTO - Canadian Satellite Radio Holdings reported a second quarter loss of $15.8 million Monday, an improvement over the same quarter of 2006. In releasing its financial results, based on hitting 237,500 subscribers, the company reported revenue for the three-month period ending Feb. 28, 2007 of $4.9 million, also an improvement over the same quarter in 2006. “We are pleased with our performance this quarter and are confirming our position as Canada's premium digital audio entertainment and information company,” said John Bitove, CSR’s Chairman and CEO. “We will continue to build our subscriber base through innovative partnerships such as our...