LeapFrog 2005 Annual Report Download - page 80
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LEAPFROG ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2005 2004 2003
Net sales ....................................................... $649,757 $640,289 $680,012
Cost of sales .................................................... 370,121 381,244 339,868
Gross profit ..................................................... 279,636 259,045 340,144
Operating expenses:
Selling, general and administrative .............................. 126,187 120,810 91,619
Research and development ..................................... 52,340 60,997 57,605
Advertising ................................................. 70,014 83,263 73,765
Depreciation and amortization .................................. 10,142 7,958 7,697
Total operating expenses .......................................... 258,683 273,028 230,686
Income (loss) from operations ...................................... 20,953 (13,983) 109,458
Interest expense ............................................. (68) (15) (10)
Interest income .............................................. 3,366 1,717 1,191
Other (expense) income, net .................................... (454) (176) 4,656
Income (loss) before income taxes ................................... 23,797 (12,457) 115,295
Provision (benefit) for income taxes ................................. 6,297 (5,929) 42,620
Net income (loss) ................................................ $ 17,500 $ (6,528) $ 72,675
Net income (loss) per common share:
Basic ...................................................... $ 0.28 $ (0.11) $ 1.27
Diluted .................................................... $ 0.28 $ (0.11) $ 1.20
Shares used in calculating net income (loss) per common share:
Basic ...................................................... 61,781 59,976 57,246
Diluted .................................................... 62,329 59,976 60,548
See accompanying notes.
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