LeapFrog Enterprises rises on narrower Q4 loss
LeapFrog Enterprises, Inc. (NYSE: LF) shares are rising after the maker of educational toys and software reported a fourth-quarter net loss of $32.6 million, or $0.51 per share, up from a loss of $46 million, or $0.73 per share, a year earlier. Analysts were expecting a loss of $0.50 per share.
Quarterly revenue fell to $182.9 million, compared with $182.9 million during the year-ago period. Wall Street analysts, on average, projected revenue of $183.98 million. Lower sales of its existing educational toys were offset by sales of its ClickStart learning computer and Leapster learning game system.
Going forward, LeapFrog expects fiscal 2008 net sales to grow at an annual percentage rate in the mid-to-high teens. The Emeryville, Calif.-based company expects a “nominal loss” for 2008.
In morning trading, LF shares are up 18.97%, or $1.10, at $6.90. Over the last 52 weeks, shares have ranged from $4.95 to $11.48.
