LeapFrog Enterprises (LF) Misses Q2 EPS by 29c, FY16 Net Sales to 'Contract Considerably'

LeapFrog Enterprises (NYSE: LF) reported Q2 EPS of ($0.48), $0.29 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $67.2 million versus the consensus estimate of $88.49 million.

Fiscal 2016 Financial Outlook

"We are very focused on significantly reducing the cost base of our business" said Ray Arthur, Chief Financial Officer. "As a result of ongoing cost reduction efforts and two major restructuring actions taken this calendar year, we expect operating expenses, excluding impairments and depreciation to be down approximately $20 million to $25 million in the second half of our fiscal year 2016, compared to the prior year."

The Company's updated outlook for fiscal year 2016 is for net sales to contract considerably relative to the prior year, and operating losses, excluding goodwill and impairments to be greater than fiscal year 2015 losses

For earnings history and earnings-related data on LeapFrog Enterprises (LF) click here.

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