TORONTO - Canadian Satellite Radio Holdings Inc. (TSX:XSR), the parent of Sirius XM Canada Inc., says it recorded net income of $6.1 million in the fourth quarter.
That’s up from the $3.5 million in net revenue in the same quarter of 2011.
The company’s quarterly revenue was $68.1 million, up 11.5 per cent from the same period in 2011.
For the 2012 fiscal year, the Toronto-based company logged a net loss of $4.1 million after losing more than $17 million in fiscal 2011.
Annual revenue was up 8.9 per cent to $259.6 million thanks to growth in the company's subscriber base.
Sirius XM Canada says it had 2.2 million total subscribers for a year-over-year net additions of 223,100.
"In fiscal 2012, we delivered significant growth in all of our key metrics and further solidified our position as a leader in the Canadian audio entertainment marketplace,” said company president Mark Redmond.
”We are extremely pleased with our first-year's performance as a merged entity.”