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Technology Stocks : Leap Wireless International (LWIN)
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To: A.L. Reagan who wrote (2406)7/24/2002 3:33:19 PM
From: HEP_Ronin  Read Replies (1) of 2737
 
From the call -- impressions. (Sorry my notes are a little messy)

I liked the part where they decided to move cap exp. of 60Mil from 1Q 2003 to 4Q 2002. Sounds like they are still somewhat aggressively growing the Co , although White said the financial restrictions have slowed this down.

Also liked the way they monitor the business as to markets -- 40 market plan -- the mature markets become EBITDA + after 12 to 16 months. Gives predictability -- by end of year expect to be EBITDA +.

The churn involves people who leave wireless, mostly, not losses to other carriers. In addition the customers who have Leap as their primary phone are 80% vs. 18% for other carriers. But they are also now getting customers who are getting a second wireless phone -- cost effective, perhaps for local calls.

Didn't like White's managing business for stakeholders would have preferred to hear shareholders, but this must be -- I guess -- just the reality of the situation. Makes one wonder why with such a low market cap bankruptcy would be such an issue. Seems that court, lawyer, and restructuring cost for all parties would surely exceed market cap of 30+ Mil... not the case for someone huge like a WCOM.

HEP',
...still deciphering my notes....
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