Earnings: Leap Wireless Revenues Up 51 Percent, Loss Of $8.1 Million

Leap Wireless has reported service revenues for the first quarter ending March 31 increased 51 percent year-on-year to $326.8 million, due in part to a 9 percent increase in ARPU to $45.52 per month. It signed up more than 318,000 new customers bringing its total base to more than 2.5 million. “Doug Hutcheson, CEO and president of Leap, said that about two-thirds of the company’s customers are now on service plans of $45 or higher” reports RCR News. Leap reported a net loss of $8.1 million for the quarter based on costs associated with market expansion and financing activities…In the first quarter of 2006 the company reported a $17.7 million profit, while in fourth quarter of 2006 it reported a $39.4 million loss.

Earnings Release PDF

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