Leap Wireless added 171,000 net new subscribers in second quarter 2008, bringing its total customer base to 3.3 million. About 44,000 of those new subscribers came from voice services in existing markets, with approximately 116,000 coming from voice services in recently launched markets. The company's total wireless broadband customers hit the 14,000 mark.
Leap had a churn rate of 3.8 percent for the quarter, down from 4.3 percent in the same quarter last year.
On the revenue front, Leap had an income of $14.5 million for the quarter, down from $30.7 million in second quarter 2007. The company blamed the decrease on new initiatives, including the expansion of its service to cover an additional 8 million people, and the launch of wireless Internet service. New markets in the quarter were St. Louis, southern Texas, Las Vegas and Oklahoma City.
Leap's revenue was $475 million, up 19.4 percent from a year ago.
- see this press release