XM Canada sees 39% jump in Q2 revenue, but is still in the red

TORONTO – Total revenue increased 39% in the second quarter at Canadian Satellite Radio Holdings Inc., the parent company of XM Canada. Revenue for the quarter ended February 28, 2009 was $12.8 million, up from $9.2 million for the second quarters of 2009 and 2008, respectively, the company said in an announcement. But the company has yet to break even, reporting an adjusted operating profit (loss) of $6.0 million, a $3.0 million improvement from the same period last year. Calling the improvement “significant”, XM Canada said in the announcement that it was driven primarily by a $3.6 million revenue improvement...