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LeapFrog Enterprises Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 3, 2011 04:44PM

LeapFrog Enterprises Inc. (LF) filed Quarterly Report for the period ended 2011-09-30. Leapfrog Enterprises Inc. Cl A has a market cap of $223.5 million; its shares were traded at around $4.49 with a P/E ratio of 64.2 and P/S ratio of 0.5.



Highlight of Business Operations:

Net sales for the three and nine months ended September 30, 2011 increased 9% and 1%, respectively, as compared to the same periods in 2010. The increase for the both periods was largely driven by the launch of the LeapPad Explorer learning tablet in August 2011 and strong growth in our International segment. The increase for the nine month period was partially offset by higher than desired U.S. retail inventory levels at the end of 2010, which generally reduced demand for our products from our retail customers. Net sales for the three and nine months ended September 30, 2011 included a 1% positive impact from changes in currency exchange rates.

Net sales for the three months ended September 30, 2011 increased 5% as compared to the same period in 2010 largely as a result of the strong launch of the LeapPad Explorer learning tablet in August 2011. Net sales for the nine months ended September 30, 2011 decreased 6% as compared to the same period in 2010 largely as a result of higher than desired U.S. retail inventory levels at the end of 2010, which generally reduced demand for our products from our retail customers during the first half of 2011, partially offset by the strong demand of the LeapPad Explorer learning tablet.

Income (loss) from operations for the three and nine months ended September 30, 2011 improved by 57% and 24%, respectively, as compared to the same periods in 2010 due to the increase in net sales in the third quarter of 2011 and the lower operating expenses for the three and nine month periods in 2011, partially offset by the gross margin percentage decline during the 2011 periods as compared to 2010.

Net sales for the three and nine months ended September 30, 2011 increased 28% and 25%, respectively, as compared to the same periods in 2010. The increase was primarily due to the launch of the LeapPad Explorer learning tablet in August 2011 in certain international markets. Net sales for the three and nine months ended September 30, 2011 included a 5% positive impact from changes in currency exchange rates.

Income from operations for the three and nine months ended September 30, 2011 improved by 45% and 75%, respectively, as compared to the same periods in 2010 primarily due to significantly increased net sales and improved gross margin percentage offset by a higher operating expenses.

Read the The complete Report



Stocks Discussed: LF,
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