LeapFrog 2007 Annual Report Download - page 77
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LEAPFROG ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2007 2006 2005
Net sales ...................................................... $442,271 $ 502,255 $649,757
Cost of sales ................................................... 268,965 355,221 370,121
Gross profit .................................................. 173,306 147,034 279,636
Operating expenses:
Selling, general and administrative ............................. 141,628 131,928 126,187
Research and development ................................... 59,371 54,475 52,340
Advertising ............................................... 64,013 75,441 70,014
Depreciation and amortization ................................ 9,464 9,853 10,142
Total operating expenses ........................................ 274,476 271,697 258,683
Income (loss) from operations ..................................... (101,170) (124,663) 20,953
Interest expense ............................................ (111) (97) (68)
Interest income ............................................ 4,560 7,186 3,366
Other income (expense), net .................................. (871) (907) (454)
(Loss) income before provision for income taxes .................... (97,592) (118,481) 23,797
Provision for income taxes ....................................... 3,723 26,611 6,297
Net (loss) income .............................................. $(101,315) $(145,092) $ 17,500
Net income (loss) per common share:
Basic .................................................... $ (1.60) $ (2.31) $ 0.28
Diluted ................................................... $ (1.60) $ (2.31) $ 0.28
Shares used in calculating net income (loss) per common share:
Basic .................................................... 63,361 62,817 61,781
Diluted ................................................... 63,361 62,817 63,329
See accompanying notes
F-5