SIRIUS Satellite Radio just announced their record fourth quarter and full-year 2005 financial and operating results - and as expected, these are some real good numbers. Ending 2005 with 3,316,560 subscribers (a 190% year-over-year increase) and record net subscriber additions of 2,173,302.

For the fourth quarter, SIRIUS added 1,142,640 net subscribers, pushing SIRIUS to the market share leader position for satellite radio subscriber additions for the quarter, and a 138% increase over net subscriber additions in the year-ago quarter. SIRIUS' market share of satellite radio net subscriber additions was approximately 45% for full-year 2005 and approximately 56% for the fourth quarter.

Average monthly churn for the fourth quarter and full-year 2005 was 1.5%, in line with guidance. Last year, SIRIUS added 1,554,108 net subscribers from its retail channel, up 123% from 2004. SIRIUS Satellite Radio also added 620,224 net subscribers from its automotive OEM channel, up 241% from 2004. For Q4, SIRIUS added 900,645 net subscribers from its retail channel and 241,705 net subscribers from its automotive OEM channel.

Subscriber acquisition costs (SAC) per gross subscriber addition:

Q4 SAC = $113
2005 SAC = $139 (21% better than last year when it was $145)

The conference call begins in about a half-hour.