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.”

If you would like to receive our daily newsflash email, please enter your email address in the “sign-up” box at the top of the page; you can also follow us on Twitter and Facebook and request a print subscription here.

RECENT ARTICLES

Friday Blog

Your flexible friend …it’s the Friday Blog!

Schleich GmbH enjoys 7th consecutive year of growth

New logo and website make debut for Golden Bear

UK retail sales show rise over Christmas

Smart Toys and Games unveils Smartivity range

Exclusive: Holotoyz – a company to tech seriously

Exclusive: Opportunity knocks at Rubie’s

Latest Hornby results report rise in Q3 sales

The 2021 Toy Trust Media Auction is open for bids

Exclusive: Geemac – the complete package