LeapFrog 2004 Annual Report Download - page 83
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LEAPFROG ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2004 2003 2002
Net sales ....................................................... $640,289 $680,012 $531,772
Cost of sales .................................................... 381,244 339,868 261,731
Gross profit ..................................................... 259,045 340,144 270,041
Operating expenses:
Selling, general and administrative .............................. 120,810 91,619 80,915
Research and development ..................................... 60,997 57,605 54,405
Advertising ................................................. 83,263 73,765 56,722
Depreciation and amortization .................................. 7,958 7,697 6,648
Total operating expenses .......................................... 273,028 230,686 198,690
(Loss) Income from operations ..................................... (13,983) 109,458 71,351
Interest expense ............................................. (15) (10) (823)
Interest income .............................................. 1,717 1,191 694
Other (expense) income, net .................................... (176) 4,656 1,051
(Loss) income before income taxes .................................. (12,457) 115,295 72,273
(Benefit) Provision for income taxes ................................. (5,929) 42,620 28,829
Net income (loss) ................................................ $ (6,528) $ 72,675 $ 43,444
Net income (loss) per common share:
Basic ...................................................... $ (0.11) $ 1.27 $ 1.09
Diluted .................................................... $ (0.11) $ 1.20 $ 0.86
Shares used in calculating net income (loss) per common share:
Basic ...................................................... 59,976 57,246 39,695
Diluted .................................................... 59,976 60,548 50,744
See accompanying notes.
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