Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Ron M who wrote (420)	7/8/1999 8:33:00 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 2737

RonM: Thanks for the article link. Too bad the home town paper paints the picture in a negative light. LEAP changed its accounting methods to take the best advantage of the addition of the Chilean property. (a long term plus IMO) LEAP is going to be spending money for some time building up infrastructure, partnerships and licenses - this will not be the last 'accounting' change opportunity. Lets hope the paper is given some better PR fodder to work with next time. Jeff Vayda

To: Ron M who wrote (420)	7/8/1999 10:39:00 AM
From: Peter V	Respond to of 2737

THanks for the link. Here is the text so that when the link is gone, we'll still have the text here: Leap reports bigger losses SAN DIEGO UNION-TRIBUNE July 7, 1999 SAN DIEGO -- Qualcomm spin-off Leap Wireless International's third-quarter losses were bigger than reported last month, according to a filing with the Securities and Exchange Commission. Leap lost $46.7 million or $2.60 a share in the quarter ending May 31, not the $42.2 million or $2.35 a share it reported last month. The company adjusted its results based on the buyout of a Chilean venture and the investment in a domestic wireless service carrier in Tennessee. Leap had to buy the other half of a wireless company in Chile when its South American partner, Telex Chile, wilted under the weight of debt. The resulting buyout in April soiled Leap's books with red ink. Leap also said it was adopting an "equity method of accounting" with regard to its Tennessee service. That re-calibration forced Leap to retroactively adjust its financial statements, the company said in a release.