LeapFrog 2011 Annual Report Download - page 54
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LEAPFROG ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Years Ended December 31,
2011 2010 2009
Net sales.......................................... $455,140 $432,564 $379,834
Cost of sales...................................... 268,988 253,590 221,827
Gross profit .................................... 186,152 178,974 158,007
Operating expenses:
Selling, general and administrative ....................... 77,984 77,287 82,853
Research and development ............................ 33,784 33,385 33,830
Advertising....................................... 39,526 49,314 39,331
Depreciation and amortization .......................... 11,161 11,183 10,406
Total operating expenses ........................... 162,455 171,169 166,420
Income (loss) from operations ..................... 23,697 7,805 (8,413)
Other income (expense):
Interest income .................................... 136 203 556
Interest expense ................................... (259) (243) (60)
Other, net........................................ (4,809) (1,790) (1,959)
Total other income expense, net ...................... (4,932) (1,830) (1,463)
Income (loss) before income taxes................... 18,765 5,975 (9,876)
Provision for (benefit from) income taxes .................... (1,137) 1,030 (7,188)
Net income (loss) ................................ $ 19,902 $ 4,945 $ (2,688)
Net income (loss) per share:
Class A and B − basic and diluted ....................... $ 0.30 $ 0.08 $ (0.04)
Weighted average shares used to calculate net income (loss)
per share:
Class A and B − basic ............................... 65,406 64,368 63,914
Class A and B − diluted .............................. 66,332 65,627 63,914
See accompanying notes
44