LeapFrog 2002 Annual Report Download - page 31

After deducting the underwriters’ commission, the offering expenses and the proceeds due to the selling
stockholders, we received net proceeds of $115.1 million from the offering. On July 30, 2002, upon completion
of our initial public offering, we used a portion of the proceeds to repay the entire outstanding $34.1 million
balance on our long term secured credit facility with Foothill Capital Corporation. All of the remaining proceeds
were used to pay for the production of our components and for finished goods inventory purchased through
December 31, 2002.
Item 6. Selected Financial Data
Selected Consolidated Financial Data
The following selected consolidated financial data for the five years ended December 31, 2002, have been
derived from our consolidated financial statements. The following information is qualified by reference to, and
should be read in conjunction with, “Management’s Discussion and Analysis of Financial Condition and Results
of Operations” and the consolidated financial statements and related notes thereto.
For the Year Ended December 31,
2002 2001 2000 1999 1998
(In thousands, except per share data)
Consolidated Statements of Operations Data:
Net sales ...................................... $531,772 $314,243 $160,128 $71,867 $31,129
Grossprofit.................................... 272,032 144,645 68,281 28,989 10,671
Income (loss) from operations ..................... 71,351 16,435 132 1,449 (3,696)
Netincome(loss) ............................... $ 43,444 $ 9,669 $ (2,259) $ 1,539 $ (1,930)
Net income (loss) per common share—basic .......... $ 1.09 $ 0.29 $ (0.07) $ 0.05 $ (0.06)
Net income (loss) per common share—diluted ........ $ 0.86 $ 0.25 $ (0.07) $ 0.05 $ (0.06)
Shares used in calculating net income (loss) per
share—basic ................................. 39,695 33,449 32,462 31,878 31,001
Shares used in calculating net income (loss) per
share—diluted ............................... 50,744 38,470 32,462 33,268 31,001
December 31,
2002 2001 2000 1999 1998
(In thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents ........................ $ 73,327 $ 8,269 $ 5,327 $12,009 $31,109
Working capital ................................ 224,685 117,960 30,323 35,569 35,501
Total assets .................................... 397,682 221,973 139,797 84,588 65,510
Long term debt ................................. — 61,163 — — —
Redeemable convertible Series A preferred stock ...... — 24,139 — — —
Total stockholders’ equity ........................ 268,798 72,848 61,811 63,751 60,462
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