Leap has 385K net adds in Q4

Leap Wireless had 385,000 net subscriber additions in the fourth quarter, up from 152,000 in the fourth quarter last year, giving a boost to the flat-rate carrier amid the economic recession.

Subscribers: Leap had 941,000 net additions in 2008, and ended the year with around 3.8 million subscribers, up nearly 33 percent from 2.86 million at the end of last year.

Churn: Leap also said churn for the quarter was 3.8 percent, down from 4.2 percent the company had in both the third quarter of 2008 and in the fourth quarter last year.   

The company is coming off of a $48.8 million loss in the third quarter; Leap will report its full financial results next month. The carrier recently signed a nationwide roaming agreement with MetroPCS and many attribute its boost in subscribers to customers' desire to save money in lean economic times.

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Correction, January 9, 2009: Due to an an editing error, an earlier version of this article misstated the number of Leap Wireless' net additions as 358,000.