Leap Wireless International Earnings Cheat Sheet: Loss Widens

Leap Wireless International, Inc. (NASDAQ:LEAP) reported its results for the second quarter. Leap Wireless International, Inc. is a wireless communications carrier that offers digital wireless services in the United States of America under the Cricket brand.

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Leap Wireless International Earnings Cheat Sheet for the Second Quarter

Results: Loss widened to $65.2 million (85 cents per diluted share) from $18.2 million (loss of 24 cents per share) in the same quarter a year earlier.

Revenue: Fell 14% to $760.5 million from the year earlier quarter.

Actual vs. Wall St. Expectations: LEAP fell short of the mean analyst estimate of a loss of 48 cents per share. It fell short of the average revenue estimate of $780.3 million.

Quoting Management: “During the second quarter, the business delivered a substantial improvement in adjusted OIBDA margin, which increased 600 basis points from the first quarter of 2011, as we had anticipated,” said Doug Hutcheson, Leap’s president and chief executive officer. “We surpassed last year’s gross voice additions, and net voice additions improved by more than 100,000 customers year-over-year. New and existing customers continued to select our smart and Muve Music devices, which comprised nearly 50 percent of new handset sales during the quarter.”

Key Stats:

The company has now missed analyst estimates for the last four quarters. It fell short by 16 cents in the first quarter, by 42 cents in the fourth quarter of the last fiscal year, and by 47 cents in the third quarter of the last fiscal year.

Competitors to Watch: MetroPCS Communications, Inc. (NYSE:PCS), United States Cellular Corp. (NYSE:USM), Sprint Nextel Corporation (NYSE:S), Telephone & Data Systems, Inc. (NYSE:TDS), Verizon Communications Inc. (NYSE:VZ), Clearwire Corporation (NASDAQ:CLWR), NTELOS Holdings Corp. (NASDAQ:NTLS), AT&T Inc. (NYSE:T), Shenandoah Telecommunications Co. (NASDAQ:SHEN), and USA Mobility, Inc. (NASDAQ:USMO).

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(Source: Xignite Financials)

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