TSX:XSR - Post Discussion
Post by
retiredcf on Apr 10, 2015 1:21pm
Today's Globe & Mail Stocks to Watch
| Friday’s small-cap stocks to watch
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TIM SHUFELT
Friday, April 10, 2015
Our roundup of Canadian small-caps making news and on the move today.
Sirius XM Canada Holdings Inc. released unaudited financial results for its fiscal second quarter, in which the company realized adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $23.3-million, representing a 3.6-per-cent increase over the prior year’s quarter. The increase was a result of revenue growth, which rose by 6.1 per cent to $80.1-million, as well as marketing related cost savings, offset in part by an increase in copyright royalties, the company said. On an unadjusted basis, the company realized a net loss of $25.1-million, compared to a profit of $6.2-million in the second quarter of 2014. “As a result of growth in our self-pay subscriber base and self-pay [average revenue per user], we generated improvements across all of our key financial metrics,” said Mark Redmond, CEO of SiriusXM Canada. “We set a new quarterly revenue record and also delivered year-over-year improvements in adjusted EBITDA and free cash flow, despite significantly higher copyright royalties and greater capital expenditures. The company also said it received a notice of reassessment from Canada Revenue Agency regarding its Aug. 31, 2006 tax return, which denied the company the full amount of non-capital losses and eligible capital expenditures related to the company’s share issuances. As a result, the company booked a non-cash, one-time income tax expense of $19.1-million in the quarter.
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