Directed Electronics Reports Record 4Q and FY 05 Results

Thursday, March 30, 2006

Directed Electronics Inc., the maker of the SIRIUS S50, Sportster, Starmate and others.. along with car security and entertainment systems, posted a fourth-quarter net loss Thursday, but adjusted results beat Wall Street's estimates and the company's shares surged after-hours.

The company posted a net loss applicable to common shareholders of $10.2 million, or 51 cents per share, compared with earnings of $7.1 million, or 38 cents per share, during the same period a year ago.

Sales jumped 69 percent to $135.5 million from last year's $80.1 million.

"Our growth was primarily driven by the continued momentum of our security and entertainment business and the strong growth of our Sirius satellite radio product sales," said James E. Minarik, president and chief executive, in a statement.

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