Directed Electronics makes many SIRIUS branded units, like the Sirius S50, SIRIUS Sportster, Sportster Replay and Starmate receivers reported net sales in the first quarter of 2006 increased by 42.7% to $74.3 million, an increase of $52.1 million over the prior year first quarter net sales.
James E. Minarik, Directed's President and Chief Executive Officer said... "Our SIRIUS satellite radio products experienced significant growth during the quarter, and we believe we are well positioned for continued record performance fueled by solid subscriber growth and the introduction of new products expected this summer and fall."
* Net Sales Increase 43% to $74.3 Million
* GAAP Net Income Increases 182% to $4.0 Million, or $0.16 per Diluted Share
* Excluding One-Time Income Tax Benefit, Pro Forma Net Income Increases 134% to $3.6 Million, or $0.14 per Diluted Share
* Excluding One-Time Income Tax Benefit, Company Raises 2006 Earnings Outlook to $1.00 - $1.03 per Diluted Share