NEW YORK (Reuters) - income in the first quarter of Sirius XM Radio Inc. has been strengthened by subscribers, but he said the decline in sales of car following the earthquake in the Japan could hurt its growth subscribed this year.
The company, home of programming by Howard Stern and the major League Baseball, depends on the automotive industry to attract new subscribers of new car owners who receive free radios in their vehicles. Its services are presented in several brands of car, including Toyota Motor Corp.
Register about the half of listeners who receive the free radio with their new car a few months later you for the complete service.
She added a 373,064 subscribers better than expected in the course of the quarter, bringing its total listener base 20.6 million people. Analysts expected additions in the 200, 000 s, Lazard Capital Markets Barton Crockett analyst.
The company left its subscriber forecast unchanged with additions of $ 1.4 million this year. It raised its projections were not for the issues of supply arising from the earthquake and tsunami in the Japan two months ago, he said in a statement.
"With the issue of the Japan, there was speculation total sales car might drop, this is why Sirius XM orientation looks very conservative for the rest of the year," said analyst Gabelli & Co Brett Harriss.
CFO of the Sirius XM David Frear said analysts on the issues of supply of the Japan in a conference call did not poorly in April auto sales and is "feeling good" in May. After may, the situation is not clear, said Mel Karmazin, head of the Executive.
"This is not quite clear what our partners (car) will experience," Karmazin said, adding that the issues of supply will not have an impact on the manufacturing of the physical satellite radios.
On Tuesday, General Motors Co and Ford Motor Co. reported strong gains in the U.S. in April sales. Toyota and Honda Motor Co Ltd. broadcast their numbers later Tuesday and analysts expect to be lower because of the earthquake in the Japan.
SIRIUS XM expects this income throughout the year at approximately 3 billion this year, a little shy of estimates of analysts of $ 3.07 billion.
Net income increased to 78.1 million dollars, or 1 cent per share, 41.5 million, or 1 cent per share, a year earlier. The company said its earnings per share is the same that a year ago because the number is rounded to accounting.
Income increased by 9% to 723.8 million. Analysts expected income of $ 736 million, according to Thomson Reuters I/B/E/s
Shares of the company were 8.9% higher to $2.08 afternoon trading on the Nasdaq.
(Reported by Liana b. Baker; editing by Dave Zimmerman, Derek Caney and Andre Grenon)
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