LeapFrog 2004 Annual Report Download - page 34
Download and view the complete annual report
Please find page 34 of the 2004 LeapFrog annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24 -
25 -
26 -
27 -
28 -
29 -
30 -
31 -
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
41 -
42 -
43 -
44 -
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
 |
 |
Results of Operations
The following table sets forth selected information concerning our results of operations as a percentage of
net sales for the periods indicated:
Year Ended December 31,
2004 2003 2002
Net sales ..................................................... 100.0% 100.0% 100.0%
Cost of sales .................................................. 59.5 50.0 49.2
Gross profit ................................................... 40.5 50.0 50.8
Operating expenses:
Selling, general and administrative ............................ 18.9 13.5 15.2
Research and development ................................... 9.5 8.5 10.2
Advertising ............................................... 13.0 10.8 10.7
Depreciation and amortization ................................ 1.2 1.1 1.3
Total operating expenses ........................................ 42.6 33.9 37.4
(Loss) income from operations ................................... (2.2) 16.1 13.4
Interest and other income, net .................................... 0.2 0.9 0.2
(Loss) income before provision for income taxes ..................... (1.9) 17.0 13.6
(Benefit) provision for income taxes ............................... (0.9) 6.3 5.4
Net income (loss) .............................................. (1.0)% 10.7% 8.2%
Twelve Months Ended December 31, 2004 Compared To Twelve Months Ended December 31, 2003
Net Sales
Net sales decreased by $39.7 million, or 6%, from $680.0 million in 2003 to $640.3 million in 2004. On a
constant currency basis, which assumes that foreign currency exchange rates were the same in 2004 as 2003, total
company net sales decreased 7% from 2003 to 2004.
Net sales for each segment and its percentage of total company net sales were as follows:
Year Ended December 31,
2004 2003 Change
Segment $(1)
%of
Total
Company
Net Sales $(1)
%of
Total
Company
Net Sales $(1) %
U.S. Consumer ................... $431.9 67% $546.0 80% $(114.1) (21)%
International ..................... 153.2 24% 96.6 14% 56.6 59%
Education and Training ............. 55.2 9% 37.5 6% 17.8 47%
Total Company .................. $640.3 100% $680.0 100% $ (39.7) (6)%
(1) In millions.
27