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

To: Jon Koplik who wrote (2216)	6/15/2002 11:28:31 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 2737

Leap Wireless Fraud -5: Amended Vendor Pacts In March DOW JONES NEWSWIRES "We are optimistic that the vendors will work with us as they have done in the past, and we will be able to refinance our vendor facilities or simply amend this particular covenant if our business continues to perform as expected," Leap Wireless Chairman and Chief Executive Harvey White said in the statement. In March, Leap Wireless amended agreements with Ericsson (ERICY), Lucent Technologies Inc. (LU) and Nortel Networks Corp. (NT) to revise certain covenants that would have taken effect in the December 2002 and March 2003 quarters. In exchange for relaxing these covenants, Leap agreed to minimum EBITDA covenants beginning in the June 2002 quarter. Leap Wireless said it believes financial costs related to the fraudulent activity that occurred during the first quarter were included in the financial results reported for that quarter. In the first quarter ended March 31, Leap Wireless reported a loss of $4.89 a share excluding a gain on the sale of wireless a license. Including the gain, the loss was $196.6 million, or $5.32 a share, on revenue of $140.2 million. Shares of Leap Wireless closed Wednesday at $1.68, down 31 cents, or 15.6%, in Nasdaq trading. The stock is down 90.7% in the past 26 weeks, hitting a 52-week low of $1.50 on June 4. Company Web site: leapwireless.com -Lisa Reynolds; Dow Jones Newswires; 201-938-5400 Updated June 13, 2002 8:50 a.m. EDT Copyright © 2002 Dow Jones & Company, Inc. All Rights Reserved