XM Canada records double digit revenue gain

TORONTO – A growing subscriber base combined with an increase in average monthly subscription revenue per Subscriber (ARPU) helped to drive up revenues at XM Canada by 12.6%, the satellite radio company announced.Revenue for its first quarter ended November 30, 2010 was $15.4 million, up from $13.7 million in the same period last year. Despite the increase in revenues, the company’s adjusted operating loss grew to $2.2 million from $1 million due to absence of the $1.2 million credit on reversal of CRTC Part II licence fee realized in the first quarter of 2010 plus some one-time marketing credits.ARPU was $11.40...