Leap Wireless
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| Type | Public (NASDAQ: LEAP) |
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| Founded | 1998 |
| Headquarters | San Diego, CA (Operational Headquarters) |
| Industry | Communications Services |
| Revenue | ▲ $2.26B billion USD (2006) |
| Employees | 1,400 |
Leap Wireless International Inc. (NASDAQ: LEAP) is a public telecommunications company that provides wireless services through its subsidiaries, Cricket Communications and Jump Mobile. Leap was founded in 1998 and was built on the premise of unlimited services with no contracts and no credit checks, providing access to wireless services to customers who couldn’t otherwise afford it, or who didn't want the long term commitment of a one or two year contract.
Leap has all-digital CDMA 1X and 1xEV-DO networks that have expanded significantly in the past few years. Leap ended the year 2007 with 2.864 million wireless subscribers. [1] Leap currently offers service across parts of 27 states, and has recently purchased spectrum at the AWS auction giving Leap coverage of an estimated 110 million potential customers. Leap Wireless is headquartered in San Diego, California and is traded on the NASDAQ National Market under the symbol LEAP. It is the eighth largest wireless telecommunications network in the United States.
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[edit] Cricket Communications
Cricket Communications, Inc. founded in 1999, is a subsidiary of Leap Wireless International, Inc. It offers prepaid wireless service in the USA. As of quarter 1 of 2008, Cricket provides service to more than 3 million customers in parts of 25 states on Leap’s CDMA 1X and 1xEV-DO networks.
Cricket uses a flat rate billing method, offering rate plans from $30 to $60 per month before taxes. Cricket offers nationwide extended calling area on most service plans which extends coverage to all Cricket coverage areas, Cricket also offers Nationwide Roaming which provides customers the ability to use their Cricket phone throughout the US and Canada while outside of Cricket coverage areas.
[edit] Jump Mobile
Jump Mobile is a subsidiary of Leap Wireless International, Inc. The pre-paid wireless service is not an MVNO, as it uses its parent company’s CDMA 1xEV-DO network to provide pre-paid wireless services to its customers.
Jump Mobile offers customers unlimited incoming calls from anywhere in the world, outgoing calls at 10 cents per minute, and unlimited incoming and outgoing text messages within the U.S.. The pre-paid service includes voicemail, caller ID, call waiting, three-way calling, and offers features such as directory assistance, ringtones, games, and wall papers. Customers can send international text messages from $.10 to $.15 per message and can call internationally from $.05 a minute.
Jump Mobile launched in its first market in 2005, and its service is currently available in parts of 27 states.
[edit] History of Leap
Leap Wireless was founded in 1998, spun off as an independently traded company from San Diego-based Qualcomm. Leap was started with the idea to provide affordable wireless services to a wide range of customers, without credit checks or long-term commitments. Under that principle, it founded Cricket Communications in 1999 and launched in Chattanooga, Tennessee that year.
During this time, Leap also operated all-digital wireless service in Mexico and Chile under partnership with other companies. In May 2000 Leap Wireless sold its Chilean wireless operator Smartcom PCS to Endesa.
In March 2002, Leap sold its 20 percent stake in Mexican Wireless carrier Pegaso PCS to Telefonica Moviles.
Leap reorganized in 2002 and (trading under the symbol LWIN) was delisted from the Nasdaq stock exchange on December 11th, 2002.
Leap created Jump Mobile in 2005, a pre-paid mobile wireless service company that shared the unlimited motto of Cricket. Jump Mobile opened in its first market in 2005; its service is currently available in parts of 27 states.
On September 4, 2007, MetroPCS announced a proposal that MetroPCS and Leap Wireless could merge into a single wireless company.[2] The proposal was withdrawn less than two months later on November 1, 2007. However, due to LEAP's current financial situation, some analysts still believe that a merger will take place. [3] [4]
On September 10, 2007, Leap's Chief Financial Officer Amin Khalifa, resigned.[5] On November 9, 2007 Leap announced that it would restate its financial statements for fiscal years 2004, 2005 and 2006 and for the first and second quarters of 2007.[6]
On December 28, 2007, filed restatements of its earnings with the Securities and Exchange Commission. Leap reported that it had overstated its income by $22.5 million and service revenue by $7.5 million between 2004 and 2007. During the period, Leap had reported an operating profit of $102.2 million and $3.09 billion in service revenue.[7]
[edit] Executive Team
S. Douglas (Doug) Hutcheson President, Chief Executive Officer and Director
Walter Z. Berger Executive Vice President and Chief Financial Officer
Albin "Al" Moschner Executive Vice President and Chief Marketing Officer
Glenn Umetsu Executive Vice President and Chief Technical Officer
' Senior Vice President, Operations
Robert Irving, Jr. Senior Vice President and General Counsel
Leonard Stephens Senior Vice President, Human Resources
[edit] About the Network
Leap owns CDMA 1X and 1x EV-DO networks
[edit] Coverage Areas
Leap Wireless provides service to the following areas:http://www.mycricket.com/cricketcoveragemaps/
- Arizona: Phoenix, Tucson
- Arkansas: Little Rock, Hot Springs, Pine Bluff, Fayetteville, Fort Smith, Jonesboro
- California: Fresno, Visalia, Modesto, Merced, San Diego
- Colorado: Colorado Springs, Denver, Pueblo
- Georgia: Columbus, Macon
- Idaho: Boise
- Indiana: New Albany
- Iowa: Council Bluffs
- Kansas: Wichita
- Kentucky: Lexington, Louisville
- Mississippi: Olive Branch, Southaven, Tunica
- Missouri: Kansas City, St. Louis
- Nebraska: Lincoln, Omaha
- Nevada: Las Vegas, Reno, Sparks, Carson City
- New Mexico: Albuquerque, Las Cruces, Santa Fe
- New York: Buffalo, Rochester, Syracuse
- North Carolina: Charlotte, Greensboro, High Point, Winston-Salem, Raleigh-Durham
- Ohio: Cincinnati, Dayton, Springfield
- Oklahoma: Tulsa, Oklahoma City
- Oregon: Eugene, Salem, Portland
- Pennsylvania: Pittsburgh
- South Carolina: Charleston, Rock Hill
- Tennessee: Chattanooga, Knoxville, Memphis, Nashville, Clarksville
- Texas: Austin, Bryan, College Station, Del Rio, Eagle Pass, El Paso, Houston, Killeen, McAllen, San Antonio, Seguin, Temple
- Utah: Salt Lake City, Provo, Ogden
- Washington: Spokane, Vancouver
- West Virginia: New Cumberland, Wellsburg
[edit] External links
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