LeapFrog Q3 2012 : Profits Leap by 81 Per Cent
LeapFrog, maker of electronic learning toys, has seen its profits jump by 81% in the third financial quarter. Boosted by new products – such as, LeapPad2 (a touch screen tablet computer for children) and the Leapster Explorer GS (a handheld games console that promotes learning) - the company’s Q3 profit rose to $41.7 million (£26 million), versus $23 million (£14.3 million) last year.
Overall, LeapFrog’s sales rose 28% to $193.1 million, thanks not only to new technology but also the continued success of its range electronic learning aids that includes products – such as, the Tag reading system – that help children learn to read.
Net sales projections for the full financial year have been revised upwards, with the expectation of sales being between $535 million (£334M) and $550 million (£343M), up 18 to 21 per cent on last year, against a previous prediction of a 13 to 15 per cent rise.
Shares in the company (LF.NYSE) rose by 8% during trading and closed 4.82% up on its opening price at $9.57 (+ 44 cents).