Technology Briefs - July 26 - Aug. 1
The Latest Headlines:
- XM Radio’s Loss Narrows; Subscriptions, Revenue Rise
- Exide Takes Loss in its First Fiscal Quarter
- E-ZPass Starts Strong in N.H.
- Towne Air Offers Linehaul Service to Los Angelos
- Exide Takes Loss in its First Fiscal Quarter
XM Radio’s Loss Narrows; Subscriptions, Revenue Rise
XM Satellite Radio Holdings reported Thursday that its loss narrowed compared to a year earlier but said its revenue doubled for the second quarter.XM lost $146.6 million or 70 cents a share, compared with a loss of $166 million or 84 cents in the second quarter of 2004. Revenue rose to $125.5 million compared with $53 million a year earlier.
The company said it added almost 650,000 subscribers in the quarter, to reach 4.4 million listeners.
Exide Takes Loss in its First Fiscal Quarter
Vehicle battery maker Exide Technologies reported a $35.7 million net loss or $1.43 a share for its first fiscal quarter ended June 30, compared with earnings of $33.6 million or $1.35 a year earlier.The results include restructuring costs and reorganization items of about $4.3 million, a $10.6 million currency remeasurement loss and a loss on sale of capital assets of $1.5 million, the company said.
Net sales rose 9.2% to $669.3 million, Exide said in a statement when releasing the results Wednesday.
The sales increase benefited from higher average selling prices as a result of lead-related pricing actions across the business, and continued strong motive power demand worldwide. Transport Topics
E-ZPass Starts Strong in N.H.
New Hampshire state officials said the state has sold more than 100,000 E-ZPass transponders since mid-June, a number that far exceeded expectations but has some lawmakers worried the state is losing too much money and putting the highway system at risk, the Associated Press reported.Officials said the numbers mean the state is subsidizing the cost of the transponders for more people than expected, AP reported. Drivers have been paying $5 for each device, but the actual cost to the state is more than $27. The cost for drivers is scheduled to increase to $24 on Wednesday.
State transportation officials said the numbers suggest many drivers who rarely use the state’s toll roads may be buying transponders. That would mean less toll revenue to offset the cost of maintaining the electronic accounts, AP said.
Lawmakers discussed the possibility of charging users a fee to help cover the costs of the electronic accounts, but agreed to wait until more information was available. Transport Topics
Towne Air Offers Linehaul Service to Los Angeles
Towne Air Freight, an air freight trucking service, said it would offer linehaul service to Los Angeles from South Bend, Ind., starting Monday.Towne said it would use dedicated equipment for runs to Los Angeles and that the addition of the L.A. market would enable it to provide three-day service for all its entire Midwest service area. Towne said it has 33 terminals in 16 states.
The company said it would offer services including airport-to-door service from Los Angeles International Airport, and door-to-airport service to Los Angeles from the Midwest. Transport Topics
