[Satellite TODAY 11-02-11] Sirius XM Radio recorded 334,000 subscriber additions in the 2011 third quarter — a result that fell considerably short of both Wall Street and analysts’ forecasts expecting between 355,000 and 400,000 new subscribers. The company’s quarterly revenue of $764 million, however, was inline with estimates.

   In its latest financial results issued Nov. 1, the satellite radio broadcaster said it had a difficult time getting customers to commit to its service once their trial rate offerings ended. The company traditionally acquires most of its new subscribers by offering free trials of its service when people buy new cars. About 48.1 percent of Sirius XM trial subscribers became full paying subscribers in the third quarter of 2010. That rate fell to 44.4 percent in its most recent fiscal quarter.

   Sirius XM CEO Mel Karmazin said the company’s recent decision to increase its service price starting Jan. 1, 2012, had nothing to do with the disappointing subscriber results. “I have not heard of any backlash from consumers since the price raise was announced. We are very cautious when we are raising our price. We believe that we are being prudent,” Karmazin said during a conference call.

   Sirius XM said it would not increase its earnings outlook for the rest of the year or for 2012, when the company expects revenue to rise 10 percent to $3.3 billion and its free cash flow to rise 75 percent to $700 million.