LeapFrog 2012 Annual Report Download - page 46
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LEAPFROG ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Years Ended December 31,
2012 2011 2010
Net sales ......................................... $581,288 $455,140 $432,564
Cost of sales ..................................... 336,344 268,988 253,590
Gross profit .................................... 244,944 186,152 178,974
Operating expenses:
Selling, general and administrative ...................... 89,599 77,984 77,287
Research and development ............................ 36,627 33,784 33,385
Advertising ...................................... 43,023 39,526 49,314
Depreciation and amortization ......................... 11,629 11,161 11,183
Total operating expenses .......................... 180,878 162,455 171,169
Income from operations ......................... 64,066 23,697 7,805
Other income (expense):
Interest income ................................... 241 136 203
Interest expense ................................... (50) (259) (243)
Other, net ....................................... (2,309) (4,809) (1,790)
Total other expense, net ........................... (2,118) (4,932) (1,830)
Income before income taxes ...................... 61,948 18,765 5,975
(Benefit from) provision for income taxes ................... (24,504) (1,137) 1,030
Net income .................................... $ 86,452 $ 19,902 $ 4,945
Net income per share:
Class A and B − basic ............................... $ 1.29 $ 0.30 $ 0.08
Class A and B − diluted .............................. $ 1.24 $ 0.30 $ 0.08
Weighted-average shares used to calculate net income per share:
Class A and B − basic ............................... 67,100 65,406 64,368
Class A and B − diluted .............................. 69,720 66,332 65,627
See accompanying notes
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