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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Leap Wireless International, Inc. (MM) | NASDAQ:LEAP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 17.65 | 0 | 01:00:00 |
Leap Wireless International Inc. (LEAP) expects to hit the break-even point by the end of the year, according to Chief Operating Officer Al Moschner.
The discount carrier expects average revenue per user to fall as a result of a higher mix of broadband products and its pay-as-you-go offering, Moschner told analysts in a conference call.
Average revenue per user is expected to be in the high-$30 range, he said. ARPU in the second quarter was $40.73.
While results were hurt by competition, Moschner said the higher attention gained from so many rivals would help the broader transition of customers from contracts to pre-paid services.
"We have a history of competing against lookalike competitors," he said.
Chief Executive Doug Hutcheson said in an interview with Dow Jones that the company is taking steps to improve its market share. Leap recently added more features to its service plans in an effort to stay competitive.
Furthermore, Hutcheson said the company has faced off with many competitors, and Leap was built in an environment of tough competition. The company has thrived despite the hurdles, he noted.
The company slightly lowered its projection for full-year subscriber growth to 1.5 million. It previously expected to exceed 1.5 million. Hutcheson said he expects a bulk of the subscriber growth to occur in the fourth quarter.
Leap had taken a hit in a recent consumer survey even as its rivals made gains. Hutcheson said he was actually seeing the customer satisfaction and recognition levels rising.
Hutcheson also said he would support a merger with MetroPCS Communications Inc. (PCS) on the right terms. The companies have been long talked about as potential partners, because their territories match well together and they have similar business models.
-By Roger Cheng, Dow Jones Newswires; 212-416-2153; roger.cheng@dowjones.com
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