Sirius (SIRI) managed to turn in a decent quarter, breaking even, excluding one time charges, and grew its subscriber base, quarter over quarter.
The company had an adjusted EPS of $0.00 compared to analyst estimates of a loss of $0.02 per share. Revenue was $630 million, up 3% year over year, beating estimates of $608.7 million.
The subscriber base is down 2% year over year, but up by 102,295 quarter over quarter. (That’s probably thanks to cash for clunkers.)
The company also managed to restructure some of its debt. It doesn’t have any “material” payments due until 2011 now.
Mel Karmazin, Sirius’ CEO, raised guidance, saying in the release, “We expect the company’s cash flow growth momentum to continue into 2010, and we project full-year adjusted income from operations to increase approximately 20% next year.”
Assuming 2010 auto sales of 11.3 million units, Sirius expects subscriber growth next year, with revenue growth in the “mid to high-single digits” and free cash flow growth.