Leap adds 230,000 net subs

After a one day delay for the results, Leap Wireless reported a net loss of $18.1 million for its first quarter, which is less than the $24.2 million loss it posted in the year ago period. Leap's sales, however, rose 19 percent to $468.4 million, up from $393.4 million. Service revenues also rose to $398.9 million from $321.6 million, but equipment revenue dropped to $69.4 million from $71.7 million. The carrier added 230,000 net new subscribers during the quarter.

For more on Leap's Q1:
- read this AP article