Satellite services radio provider Sirius XM Radio
Inc(NASDAQ:SIRI) is scheduled to report its third quarter earnings on October
30.
This will be the last earnings to be presided over by
Chief Executive Mel Karmazin, who has already announced his intention of
quitting the company in February next year.
Apart from numbers, analysts and investors will be
expecting a lot of announcements from the company, which will soon be under the
management control of Liberty Media, which has been raising its stake in the
company through market purchases over several months.
In fact the Street is looking for some clarity on the
deal with Liberty Media and its plans for the company, future guidance and also
some idea about who the next CEO is likely to be.
Analysts expect earnings of about 2 cents a share from
the company, almost on par with what it earned in the year-ago quarter. The
company has had to pay off debts and do some refinancing activities which has
impacted its bottomline in the last quarter.
According to an analysis done by Seeking Alpha the
company is expected to record revenues of $865 million during the quarter and
adjusting for expenses, to report an income of $110 million.
"As you can see, there is a substantial $110
million number associated with extinguishment of debt. The company paid off
some notes and refinanced others. That activity will be accounted for in this
quarter. In addition, the activity will impact cash," the analysis said.
However the focus this time around will be on the big
picture and the way forward for the company and its prospects.
No comments:
Post a Comment