XM Satellite Radio [Nasdaq: XMSR] Thursday reported revenue of $13.1 million for the first quarter, up $11.3 million from $1.8 million a year ago. XM posted an EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $63.3 million for the quarter, a $12.1 million improvement compared with an EBITDA loss of $75.4 million during the 2002 January-March period.

The company’s consolidated net loss was $124 million, or $1.26 per share, for the quarter, compared to a net loss of $117.7 million, or $1.56 per share, a year ago. The satellite radio provider has sufficient cash to continue operating into next year through a $475 million financing package obtained earlier this year.