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Nov 06, 2009 - 2:36 AM EST
VFC submits:Shares of Sirius XM (SIRI) satellite radio responded positively to news that losses narrowed and revenues increased during the third quarter of 2009. Aside from one time charges, the company reported cash flow break even.
While I am confident in the ability of Sirius XM to continue demonstrating growth, we can't ignore the fact that the cash for clunkers program, which gave a boost to the auto industry in the third quarter, also gave a boost to Sirius XM. Satellite radio is not entirely dependent on the auto industry for survival, but it's safe to say that it is significantly dependent on the industry. Let's face it, Americans are lazy and they're more apt to buy SatRad if it's already installed in a new car rather than purchasing a radio on line that they have to install and activate themselves.
Source: Seeking Alpha (Nov 06, 2009 - 2:36 AM EST)
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