Sirius XM Holdings Canada Inc. boosts revenues to $87.2 million as it prepares to go private

In what could be the last of its public financial disclosures, Sirius XM Canada Holdings Inc., the parent of satellite radio operator Sirius XM Canada Inc., reported $24.2 million in earnings before taxes in the first quarter of fiscal year 2017 on Wednesday.

The 3.1 per cent increase over the same period a year ago comes as the company is in the final stages of a privatization transaction.

In August, shareholders voted to approve a deal to give two of the company’s largest shareholders, Slaight Communications Inc. and Obelysk Media Inc., 33.5 per cent of voting shares and 15 per cent of the company’s total equity. The rest of the equity will end up in the hands of Sirius XM Holdings Inc., the U.S.-based company that owns the rights to the Sirius XM brand in America and currently has a 32 per cent stake in its Canadian counterpart.

The last remaining hurdle for the approval of the transaction approval from the CRTC, which wrapped up a public consultation on the proposed deal on Monday.

Sirius XM Canada’s total revenue for the three month period ending November 30, 2016 was $87.2 million, a 4.4 per cent increase from the same period a year earlier. The company attributed the growth to an increase in its self pay subscriber base, which grew 4.6 per cent to 2,029. However, net income fell 2.7 per cent to $9.8 million, which the company said was due to higher operating costs, depreciation and amortization.

Sirius XM Canada’s earnings for the quarter amounted to 8 cents per share. The company also announced that it has obtained approval to delay its annual general meeting, because it is in the process of finalizing its privatization.

On February 13, Sirius XM Canada will make a cash dividend payment of $0.1050 per class A and class C share, and $0.0350 per class B share to shareholders at the close of business on January 27.

The privization transaction, first announced in May 2016, comes with an offer of $4.50 per share, which some minority shareholders argued undervalued the company given a history of revenue growth and management’s own predictions that it will continue. The stock closed Wednesday at $5.19.

Hands On With The Microsoft Surface Dial

Happy day! Microsoft shipped me a Surface Dial to play with. I have been looking forward to the opportunity to use the Surface Dial in a real-world scenario ever since the Microsoft unveiled it alongside the Surface Studio at a media event in New York last fall. Now that I’ve had […]

VW faces reforms, oversight for three years under U.S. settlement

WASHINGTON (Reuters) – Volkswagen AG, as part of a $4.3 billion settlement with U.S. regulators, on Wednesday agreed to sweeping reforms, new audits and oversight by an independent monitor for three years to resolve diesel emissions cheating investigations.

Worldwide Mac Sales Remain Steady in 4Q 2016 Amid Continuing PC Market Decline

Amid an ongoing decline in worldwide PC shipments, Apple’s Mac sales are holding steady, according to new PC shipping estimates shared today by Gartner.

During the fourth quarter of 2016, Apple shipped an estimated 5.4 million Macs worldwide, up from 5.3 million in the year-ago quarter for an estimated growth of 2.4 percent. During the quarter, Apple held 7.5 percent of the market, up from 7 percent during the fourth quarter of 2015, making it the number five PC vendor in the world.

Lenovo, HP, and Dell, the top three vendors, all saw growth during the quarter as well. Dell, which holds 14.8 percent of the market, saw 5.4 percent growth, while HP, responsible for 20.4 percent of the market, saw 4.3 percent growth. Lenovo, the number one PC vendor with 21.7 percent of the market, saw 1.6 percent growth and shipped 15.9 million PCs, up from 15.5 in the year-ago quarter.

gartner_4q16_global

Gartner’s Preliminary Worldwide PC Vendor Unit Shipment Estimates for 4Q16 (Thousands of Units)


Asus (number 4 vendor) and Acer Group (number 6 vendor) both saw declines in growth, with Asus shipping 5.4 million PCs (down from 6 million in 4Q 2015) and Acer shipping 5 million PCs (down from 5.2 million in 4Q 2015).

Worldwide PC shipments totaled 72.6 million units during the fourth quarter of 2016, a 3.7 percent decline compared to the fourth quarter of 2015. For the full year, PC shipments totaled 269.7 million, a 6.2 drop from 2015. Apple is estimated to have shipped a total of 18.6 million Macs in 2016, down from 20.3 million in 2015.

“Stagnation in the PC market continued into the fourth quarter of 2016 as holiday sales were generally weak due to the fundamental change in PC buying behavior,” said Mikako Kitagawa, principal analyst at Gartner. “The broad PC market has been static as technology improvements have not been sufficient to drive real market growth.

There have been innovative form factors like 2-in-1s and thin and light notebooks, as well as technology improvements, such as longer battery life. This end of the market has grown fast, led by engaged PC users who put high priority on PCs. However, the market driven by PC enthusiasts is not big enough to drive overall market growth.”

Apple’s worldwide numbers held steady, but saw better growth in the United States. According to Gartner’s data, Apple shipped an estimated 2.1 million PCs in the United States for 12.8 percent of the market. That’s up from 2 million shipments (and 11.8 percent market share) in the year-ago quarter.

gartner_4q16_us

Gartner’s Preliminary U.S. PC Vendor Unit Shipment Estimates for 4Q16 (Thousands of Units)


HP, Dell, Lenovo, and Acer all saw growth in the United States, but Asus saw a sharp dip, shipping only 621,000 PCs, down from 1.2 million in 4Q 2015. Overall PC shipments in the U.S. totaled 16.5 million units, a 1.3 percent decline compared to last year.

gartner_4q16_us_trend

Apple’s U.S. Market Share Trend: 1Q06-4Q16 (Gartner)


IDC also released its shipment estimates today, and as expected, its numbers tell a different story, in part because of the difference in the way Windows-based tablets are counted by each firm.

According to IDC, worldwide PC shipments totaled 70.2 million units during 4Q 2016, with Apple shipping an estimated 5.26 million Macs, down from 5.3 million in 4Q 2015 for -0.9 percent growth and 7.4 percent market share (up from 7.3 percent last year). Similar to Gartner, IDC believes Apple shipped a total of 18.5 million Macs in 2016, down from 20.5 million in 2015, for an overall decline in growth of 9.8 percent.

It’s important to note that data from Gartner and IDC is preliminary and that the numbers can shift, sometimes dramatically and sometimes less so. Last year, for example, IDC and Gartner predicted worldwide 4Q 2015 shipments of 5.7 million Macs, while the actual number was 5.3 million.

We’ll know more about Apple’s 2016 performance and how well its new MacBook Pros have been selling following the company’s next earnings release on January 31.

Tags: IDC, Gartner

Discuss this article in our forums

New York Governor Cuomo’s helicopter makes emergency landing

NEW YORK (Reuters) – New York Governor Andrew Cuomo’s helicopter was forced to make an emergency landing on Wednesday afternoon after Cuomo made a “State of the State” speech in Albany, the state capital.

LA Community College paid $28,000 to free itself from ransomware

The Los Angeles Community College District (LACCD) paid a $28,000 ransom in bitcoins to free up the Los Angeles Valley College campus’ network, e-mail, and voicemail systems, which were targeted during a winter break when the campus was closed.

According to a Wednesday statement from an LACCD spokesman, district officials concluded that it was worth it to pay the ransom—in part, because the district has an insurance policy that covers such incidents.

“It was the assessment of our outside cybersecurity experts that making a payment would offer an extremely high probability of restoring access to the affected systems, while failure to pay would virtually guarantee that data would be lost,” LACCD Chancellor Francisco C. Rodriguez said in the statement. “After payment was made, a ‘key’ was delivered to open access to our computer systems. The process to ‘unlock’ hundreds of thousands of files will be a lengthy one, but so far, the key has worked in every attempt that has been made.”

Read 3 remaining paragraphs | Comments

VSCO shuts down its New York office

Processed with VSCOcam with a6 preset Instagram competitor and visual arts technology company VSCO has closed up shop in New York and laid off all staff, TechCrunch has learned and the company confirmed. The decision was made in order to centralize staff at the company’s Oakland location, its main headquarters. VSCO also has an office in Denver, Co., which was added when it acquired the Denver-based printing shop,… Read More