World News

LeapFrog unveils Q3 results

Published on: November 7th, 2013

The results indicate net sales have risen 9% so far in 2013, but the company is concerned about the fourth quarter “given economic headwinds and a weak retail environment” in the USA.LFLogo300zzz

The company issued a more cautious revenue outlook for 2013, citing fewer days between the Thanksgiving and Christmas holidays among other factors.

LeapFrog now expects annual sales of $570m to $590m, implying growth or decline of up to 2% from last year’s level. Previously, LeapFrog had expected full-year sales to rise in the high single-digit range.

Overall, the company reported a third-quarter profit of $26.4m, or 37 cents a share. Excluding tax-related items, adjusted profit grew to 38 cents from 32 cents. Net sales grew 4.1% to $201m, as the top line grew 1% in the US, but jumped 14% internationally.

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