This excerpt taken from the LF 8-K filed Nov 3, 2008.
LEAPFROG ANNOUNCES THIRD QUARTER 2008 FINANCIAL RESULTS
EMERYVILLE, CaliforniaNovember 3, 2008LeapFrog Enterprises, Inc. (NYSE:LF), a leading designer, developer and marketer of technology-based learning products, today announced financial results for the third quarter and nine months ended September 30, 2008.
For the third quarter 2008, the company reported net sales of $194.6 million and net income of $24.0 million, or $0.38 per share. This compares to net sales of $144.0 million and a net loss of $10.3 million, or $0.16 per share, for the third quarter 2007. In addition to the 35% increase in net sales, the improved financial results included higher gross margin and lower operating expenses year-over-year.
LeapFrog President and Chief Executive Officer Jeffrey G. Katz stated, We entered 2008 planning for our largest and most important launch year ever, and our third quarter results were on track with our expectations. Third quarter sales were driven by the continued roll-out of our new products, notably our Leapster2 and Didj educational gaming systems, and the Tag reading system in our international markets. These launches went well and our products have already won numerous awards and strong holiday toy accolades in the media, which we think bodes well for when holiday consumers finally come out of their bunkers. And we think they will come out. But, we doubt we can completely compensate for the recent softness in retail trends and so we are going to moderate our expectation for full year sales growth.
This excerpt taken from the LF 8-K filed Aug 4, 2008.
LEAPFROG ANNOUNCES SECOND QUARTER 2008 FINANCIAL RESULTS
EMERYVILLE, CaliforniaAugust 4, 2008LeapFrog Enterprises, Inc. (NYSE:LF), a leading developer of technology-based learning products, today announced financial results for the second quarter ended June 30, 2008.
This excerpt taken from the LF 8-K filed May 5, 2008.
LEAPFROG ANNOUNCES FIRST QUARTER 2008 FINANCIAL RESULTS
EMERYVILLE, CaliforniaMay 5, 2008LeapFrog Enterprises, Inc. (NYSE:LF), a leading developer of technology-based learning products, today announced financial results for the first quarter ended March 31, 2008. For the first quarter of 2008, the company reported net sales of $58.3 million, compared to net sales of $60.9 million for the first quarter of 2007, and a net loss of $0.43 per share, compared to a net loss of $0.48 per share for the same period last year. Cash and investments totaled $116.5 million at March 31, 2008.
We entered 2008 expecting the first half to be weak ahead of new product launches. First quarter results were slightly better than our expectations due primarily to the continued strength of our Educational Gaming business, led by our Leapster product, said Jeffrey G. Katz, president and chief executive officer of LeapFrog. More importantly our 2008 product launches are on track. We begin shipments of our Tag reading system in less than two weeks and our new educational gaming systems, Leapster 2 and Didj, will ship this summer. We expect that these new products will contribute to significant sales growth and margin improvement in the back half of the year.