LeapFrog 2015 Annual Report Download - page 89

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LEAPFROG ENTERPRISES, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)
22. Unaudited Comparative Data
Unaudited information for the year ended March 31, 2014 (which reflects the combined results for the
nine months from April 1, 2013 through December 31, 2013 and the three-month transition period from
January 1, 2014 through March 31, 2014) is presented below for comparative purposes:
Year Ended March 31,
2015 2014 (unaudited)
Consolidated Statements of Operations Data:
Net sales ...................................... $339,149 $ 527,564
Cost of sales .................................. 244,667 323,703
Gross profit ................................. 94,482 203,861
Operating expenses:
Selling, general and administrative ................... 88,869 89,026
Research and development ......................... 35,990 36,047
Advertising ................................... 42,919 47,388
Goodwill impairment ............................ 19,549 —
Impairment of long-lived assets ..................... 36,461 —
Depreciation and amortization ...................... 11,330 10,569
Total operating expenses ........................ 235,118 183,030
Income (loss) from operations ................... (140,636) 20,831
Total other expense, net ........................... (593) (810)
Income (loss) before income taxes ................ (141,229) 20,021
Net income (loss) ................................ $(218,772) $ 75,237
Net income (loss) per share:
Class A and B − basic ............................ $ (3.12) $ 1.09
Class A and B − diluted ........................... $ (3.12) $ 1.07
Segment Results Data:
Unites States:
Net sales ..................................... $232,736 $ 368,031
Cost of sales .................................. 172,666 226,088
Gross Profit ................................. 60,070 141,943
Operating expenses .............................. 207,527 153,731
Loss from operations ........................... $(147,457) $ (11,788)
International:
Net sales ..................................... $106,413 $ 159,533
Cost of sales .................................. 72,000 97,614
Gross Profit ................................. 34,413 61,919
Operating expenses .............................. 27,592 29,300
Income from operations ......................... $ 6,821 $ 32,619
Statements of Cash Flows Data:
Net cash provided by (used in):
Operating activities .............................. $ (64,553) $ 71,499
Investing activities .............................. (39,925) (33,187)
Financing activities .............................. 859 4,058
Effect of exchange rate changes on cash ............... (1,193) (92)
Net change in cash and cash equivalents .............. $(104,812) $ 42,278
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