LWIN Leap Wireless slumps on widening Q1 loss
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15:32 ET Leap Wireless is down $2.05, or 19.5 percent, to $8.45, in late action. After Tuesday's closing bell, the San Diego, Calif., provider of wireless communications services reported a first-quarter loss of $196.6 million, or $5.32 per share, wider than its year-ago loss of $114.4 million, or $3.88 per share. Excluding a gain on the sale of a wireless license, the company lost $4.89 per share in the latest quarter, wider than the average estimate of analysts polled by Thomson Financial/First Call. Revenue jumped to $140.2 million in the latest three months from $36.8 million in the same period a year earlier. The company reported 268,000 net additions for the quarter, bringing the total number of customers for its Cricket wireless service to 1.387 million as of March 31, up 24 percent from its total at the end of 2001. |
