XM Satellite Radio (XMSR) reported 4Q05 earnings that missed analysts' bottom-line estimates:
● EPS: Loss of $1.22 (analysts expected loss of $0.92)
● Revenue: $177 million (analysts expected $174.1 million)
● Programming and content costs: $30.6 million (up from $9.74 million y/y)
The stock is taking an additional hit this morning (down 7.5% currently) on news that XM director Pierce Roberts has resigned, submitting a letter to the CEO [view actual letter] stating that he sees "a significant chance of a crisis on the horizon," and is "troubled" about where the company is heading.
We'll have the XMSR conference call transcribed here.