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Technology Stocks : Leap Wireless International (LWIN)
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To: pcstel who wrote (2145)6/9/2002 11:24:30 AM
From: pcstel  Read Replies (2) of 2737
 
Speaking on the fraud issue. Somewhat ironic the markets reaction to the 5% fraud issue with LWIN. While other WSP's had fraud/bad debt amounts greater than LWIN.

From the Airgate PCS 10-Q


Reserve for Doubtful Accounts

Estimates are used in determining our allowance for bad debt and are based both on our historical collection experience, current trends, credit policy and on a percentage of our accounts receivables by aging category. In determining these percentages, we look at historical write-offs. Bad debt expense as a percentage of service revenues for the three and six months ended March 31, 2002 was 9.3% and 10.4%, respectively. Bad debt expense as a percentage of service revenues for the three and six months ended March 31, 2001, was 7.6% and 8.0%, respectively."

Seems unlikely that a 5% bad debt/fraud expense by LWIN would be seen as something problematic with the business plan.

PCSTEL
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