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Leap Wireless Expands Customer Base, Posts Loss

Leap Wireless, which offers cell phone service under the Cricket brand, reported a net loss of $64.6 million in the third quarter, on revenue of $599 million.

One year ago, the corporation reported a net loss of $49.3 million on revenue of $497 million.

Net customer additions during the quarter totaled 116,000. Gross customer additions totaled 850,000.

Leap posted a net loss of $65.4 million in the most recently ended quarter. The number was offset by $834,000, listed in Leap’s financial results as accretion of redeemable noncontrolling interests, net of tax. The adjustment made for a net loss attributable to common stockholders of $64.6 million.

Leap trades on the Nasdaq as LEAP. Shares were at $12.60 in midday trading Nov. 6, down from the previous day’s close at $13.03. Over the last 52 weeks the stock price has ranged from $12.84 to $42.47.

— Brad Graves

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