Leap Wireless Reports Net Loss of $74.3M for Q4Thursday, February 21, 2013
Leap Wireless International Inc., the San Diego wireless carrier doing business as Cricket, reported a fourth quarter net loss of $74.3 million, compared with a net loss of $84.4 million for the like period of 2011.
Revenue for the quarter came in at $756 million, down 1 percent from the same quarter in the prior year.
For the full year, Leap reported a net loss of $189 million, compared with a net loss of $314.6 million for 2011.
Revenue for the past year was $3.14 billion, up from $3.07 billion in 2011.
Leap said it sustained a net loss of 337,000 customers in the fourth quarter, compared with a net gain of 179,000 customers in the like quarter of 2011.
Leap said discontinuing a pre-paid wireless product and cutting back on its national retail network affected the number of customer drops.
As of Dec. 31, 2012, Leap said it had 5.3 million customers, down 10.7 percent from the amount it had at the end of 2011.
— SDBJ Staff Report