SAN DIEGO-Leap Wireless International Inc. announced that as of the end of its first quarter of
fiscal year 1999, ended Nov. 30, two of its networks initiated commercial operation and had added about 20,500
customers. Leap’s equity share is about 8,500 subscribers.
Leap, which spun off from Qualcomm Inc. in September,
recorded first-quarter revenues of $208,000 compared with no revenues the previous year. Operating expenses for the
first quarter were $9.9 million compared with operating expenses of $2.1 million in the first quarter of 1998. Net losses
were $12.5 compared with income of $7,000 in 1998. Net losses for Leap’s operating companies for the first quarter
were $12.5 million compared with net losses of $1.4 million in the first quarter of 1998.
