XM Satellite: let the good times roll

| 4/3/2002

March was a very good month for XM Satellite Holdings Inc. On April 1, the company said it ended the first quarter with more subscribers than it had expected and is on track to meet expectations for full year 2002.

The Washington-based firm said it had more than 76,000 total subscribers compared to its forecast of 70,000 at the end of the period ended March 31. According to XM, its goal for 2002 is 350,000 subscribers.

"XM added over 48,000 subscribers in the first quarter, exceeding its target by 15 percent, outpacing most Wall Street analyst expectations," said Hugh Panero, XM's president and chief executive, in a news release.

XM Satellite broadcasts 71 music channels and 29 information and entertainment channels through two satellites orbiting directly over the United States.