Educational kids entertainment producer LeapFrog reported its financial results for the first quarter of 2013. When compared to first quarter 2012, the company saw a 15% increase in consolidated net sales, an 11% increase in U.S. segment net sales and a 26% increase in international segment net sales. These improvements were driven by content for the company’s multimedia platforms such as its learning tablets for kids.
Its loss from operations improved 47% while its net loss per basic and diluted share was $0.04, an improvement of $0.10 when compared to the same period in 2012. Normalized net loss per basic and diluted share, which includes an effective 37.5% tax rate, was $0.05, an improvement of $0.04.1. LeapFrog’s operating cash flow was also up 17%, and free cash flow was up 12%.1.
“We delivered solid sales and cash flow growth in the quarter while making strategic, long-term investments in the business,” said John Barbour, Chief Executive Officer. “Content sales for our installed base of millions of multimedia learning platforms were the biggest driver of our sales performance. Sales were strong across content, platforms, accessories and toys, with each exhibiting double-digit sales growth rates, and also benefitted from an earlier Easter than in 2012. Free cash flow increased 12%.1 Our sales growth speaks to the exceptional quality and rich educational experiences of our learning solutions, while our cash flow growth speaks to the quality of our business execution.
For the second quarter of 2013, the company plans to execute long-term investments in content, new business categories, international expansion, online communities and systems, added Barbour.
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