XM Satellite Posts Wider Loss in Quarter

From Bloomberg News

XM Satellite Radio Holdings Inc., the biggest satellite-radio service, said its first-quarter loss widened to $126.3 million because of higher costs to write down the value of assets.

The net loss of $1.26 a share compared with a year-earlier loss of $112.3 million, or $1.56, the company said. Sales rose sevenfold to $13.1 million.