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Leap Wireless Shrinks Losses Following Spectrum Sales
Published on:
USA based Leap Wireless has reported that its fourth-quarter revenues fell by 4 percent to US$700 million although the net loss shank by 6.2% to a loss of US$73.8 million.
Fourth quarter 2012 operating income was $60.6 million, compared to an operating loss of $3.5 million for the fourth quarter of 2011, but that included a net gain of approximately $106 million resulting from an exchange of spectrum licenses.
The company also lost approximately 337,000 customers, considerably worse than the average expectation of 55,000 customer losses by analysts. Customer churn for the fourth quarter of 2012 was 4.6 percent.
The company ended the year with 5.3 million customers - a decline of 10.75 over the past year.
Total capital expenditures for 2013 are expected to be between $275 million and $325 million, including up to $100 million which may be spent to deploy next-generation LTE network technology.
Tags: [leap wireless] [USA]
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