Leapfrog posts a Q2 loss

International business continues to grow while CEO predicts profits ahead of LeapPad launch.
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Leapfrog's net sales totalled $54.4 million in the second quarter, a drop of 13 per cent.

In the US, sales were down 20 per cent at $39 million but internationally the electronic learning company enjoyed an increase of 11 per cent, totalling $15 million.

Leapfrog CEO John Barbour said the results were as expected and said that net sales "declined due to the year-end retail carry-over."

However, Barbour was optimistic about the firm’s financial prospects for the year: "Long-term, I believe that Leapfrog has tremendous earnings potential given our leading brand, best-in-class educational focused content, and strong product portfolio."

He continued: "We will further strengthen our product portfolio this month with the launch of LeapPad, a personalized learning tablet for children that will offer more than 100 pieces of content to educate and entertain children by year end.

"July pre-order sales of LeapPad provided a good read on consumer demand, and we expect it to be a top-seller during the holidays."

Leapfrog also reported that this year, POS dollars were up seven per cent in the 26 weeks to July 2nd, suggesting that the retail backlog is clearing.

"Our global POS performance continues to remain solid, driven by the great educational entertainment our products provide,” Barbour said.

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