Leap Wireless Added 161,000 Net New Customers In 3Q"

Leap Wireless (LEAP) said it added 161,000 net new subscribers in the third quarter, after adding 138,000 net new subscribers in the same period a year ago.

Gross subscriber additions increased to 405,000 from 234,000 last year. Customer churn improved to 4.3% from last year's 4.4%.

Separately, the San Diego wireless communications carrier said it planned a sale of $750 million worth of debt securities to qualified institutional buyers.

The company will use the proceeds from the sale to pay off existing debt and for general corporate purposes. The stock closed Monday up $1.30 at $51.78.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 10th October 2006