Canadian Satellite Radio Holdings, the parent of broadcasters XM Canada and Sirius Canada reported Friday a profitable first quarter.
The holding company, which merged the XM and Sirius firms last year, delivered earnings of $281,000 in the three months ended Nov. 30, compared to a loss of $4.4 million a year earlier.
Revenue grew to $63.1 million from $59.2 million. Total subscribers increased to 2.01 million from 1.8 million.
The merger of the two companies was completed last June, when the combined company also closed its refinancing. It now has about $146 million in long-term debt.
“We have only started to capitalize on the opportunities available to us as a merged company and are focused on further strengthening our financial results by adding subscribers, maintaining our existing subscribers and driving increased operating efficiency across the organization,” said president and CEO Mark Redmond in a release.
Canadian Satellite Radio Holdings operates as SiriusXM Canada, which has more than 120 satellite radio channels.
