SAN DIEGO, Calif.—Wireless communications company Leap Wireless International Inc. said Friday its first-quarter loss narrowed on higher sales.
The company said its net loss narrowed to $18.1 million or 27 cents per share from $24.2 million or 36 cents per share in the 2007 first quarter.
Sales rose 19 percent to $468.4 million from $393.4 million.
Service revenues rose to $398.9 million from $321.6 million while equipment revenues fell slightly to $69.4 million from $71.7 million.
Analysts polled by Thomson Financial expected a loss of 2 cents per share on sales of $459.4 million.
"The Company had a successful first quarter as the momentum in customer growth we experienced in the fourth quarter continued into 2008 and helped deliver 230,000 net customer additions spread broadly across our business," said Doug Hutcheson, Leaps chief executive and acting chief financial officer.
