Leap Wireless Reports Rise in Fourth-Quarter Profit

6:30 am on March 17, 2006 | Category: Business, Corporate, Wireless

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Leap Wireless International has reported a fourth-quarter profit of $5 million, or $0.08 a share, compared to a loss of $6.6 million in the same period a year earlier. This profit was well in excess of analysts expectations of $0.05/share.

Overall revenue, meanwhile, was up 11% to $228.9 million, but fell short of $238.6 million predicted by analysts.

The San Diego-based cell phone carrier, which owns Cricket Communications and Jump Mobile, reported 46,000 new subscribers in the fourth quarter, bringing its total number of users to 1.7 million.

For the current period, Leap hopes to add a net of 90,000 to 105,000 new customers by the end of the quarter.

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