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This letter is concerned with the interference analysis in time-unslotted frequency-hopping code-division multiple-access packet networks with error control coding. We derive, under the conditional independence assumption, a new exact closed-form expression for the packet error probability of a reference packet in the presence of other K interfering packets. In contrast to the previously known results, the computational complexity of the new result is independent of K. We also develop a new tight upper bound on packet error probability relying on mapping the unslotted system into an equivalent slotted one experiencing the same level of short-term average interference. The accuracy of the proposed approximation is demonstrated by some numerical examples and is shown to be tighter than the previously used results.