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LeapFrog reports Q1 loss

Emeryville, California-based LeapFrog Enterprises posted a US$30.4-million net loss over Q1, according to president and CEO Jeffrey Katz. Net sales for the developer of technology-based learning products were US$60.9 million, compared to US$66.5 million over the same period last year.
May 4, 2007

Emeryville, California-based LeapFrog Enterprises posted a US$30.4-million net loss over Q1, according to president and CEO Jeffrey Katz. Net sales for the developer of technology-based learning products were US$60.9 million, compared to US$66.5 million over the same period last year.

The decrease was driven by lower sales for the company’s LeapPad platform and the restructuring of its SchoolHouse sector. Net sales in the US totalled US$43.4 million for Q1 2007, compared to US$45.8 million last year. International net sales increased slightly from US$12 million to US$12.5 million. CFO Bill Chiasson stated that the company plans to transition to a new literacy-based reading platform in 2008, and restructuring the SchoolHouse division will improve the company’s gross earnings going forward.

About The Author
Gary Rusak is a freelance writer based in Toronto. He has covered the kids entertainment industry for the last decade with a special interest in licensing, retail and consumer products. You can reach him at garyrusak@gmail.com

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