XM Canada has announced that they've reach 147,000 subscribers and reported their financial results for the first quarter (which ended November 30, 2006).

"XM Canada now controls an 80 per cent share of the factory installed satellite radios in 2007," Chairman and CEO, John Bitove, said in a statement, "We are well on our way to achieving our goal of one million subscribers by 2010. We are also on track to achieve our goal of realizing an operating profit of $100 million by 2012."

For the three-month period ended November 30, 2006, XM Canada reported that revenue increased 12% over the previous quarter, to $3.8 million. Adjusted Operating Loses for the period was $12.8 million, ARPU (Average Revenue Per Unit) was $11.30 and SAC (Subscriber Acquisition Costs) was $46, down from $59 in the previous quarter. CPGA (Cost Per Gross Addition) was up to $311, from the previous quarter of $242, thanks to the increased advertising spending for the holiday selling season.

[Press Release]