NEWS

LeapFrog releases 2013 financial results

Published on: 13th February 2014

LeapFrog has released its 2013 results; they cover the full-year 2013 results compared to full-year 2012 results.LFLogo300zzz

A summary of the results are as follows:

  • Consolidated net sales were $553.6m, down 5%.
  • US segment net sales were down 9%, while international segment net sales were up 6%.
  • Operating cash flow was $78.9m, up 16%.
  • Cash and cash equivalents were $168.1m as of December 31, 2013, up 40% compared to the balance as of December 31, 2012.
  • Revenue from LeapPad up 11%.

“The holiday retail environment was very challenging,” said John Barbour, CEO. “As a result, we were unable to build on the 28% full-year net sales growth we achieved in 2012, and our net sales declined 5% for the year. 2013 was our second most profitable year in the last 10 years, and our compound annual net sales growth rate for the last four years was 10%.”

Mr Barbour continued: “We entered the fourth quarter of 2013 with net sales up 9% through the first nine months of the year, significantly better retail in-stocks, more shelf space and far stronger promotional campaigns planned for the holiday season. Unfortunately, tough retail conditions, deep retailer price discounting, open-to-buy issues and increased competition impacted our business. While we are disappointed with our 2013 results, our LeapPad hardware net sales grew by over 11%, and we remained the market leader in children’s learning tablets in most of our major markets for the third year in a row, including in the US and the UK. Our LeapFrog Explorer Licensed and Non-Licensed Software Assortment was the second best-selling toy ranked in dollars in the US and number seven in the UK according to NPD.”

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