Leap Revenue Rises>
June 22, 1999
Leap revenues rise
SAN DIEGO—Leap Wireless International Inc. said revenues for the third
fiscal quarter rose to $2.9 million, a 165-percent increase from the prior
quarter, while the company's share of net losses of operating companies it
holds ownership stakes in was $36.2 million, compared with $4.5 million the
same period last year.
Leap reported that total subscribers had reached about 42,200 throughout its
holdings, including strong growth in both its Mexican personal
communications services project and its U.S. service, Cricket. Pegaso PCS,
the Mexican carrier in which Leap holds about a 33-percent interest,
reached almost 2,800 subscribers in its first commercial market, Tijuana, at
the end of the quarter. Cricket, launched in March using ChaseTel's existing
Chattanooga infrastructure, reported 8,700 subscribers at the end of the
quarter.
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