Newsletter Signup
Where current and emerging technology trends meet.
TecTrendsInformation Sources, Inc.
  | About TecTrends | Email Signup | Contact Us
 Live Search:
Live Search | Articles | Companies | TecTerms | Products
  Loading TecTrends Live Search - please wait... 
View Noteworthy Articles      PRNewswire
 
Article

Title: LeapFrog falters, president resigns

Author: Fineman, Josh Article Type: Company
Source: San Francisco Chronicle, pD3(1) Publication Date: Feb 17, 2006
URL of Publication: http://www.sfgate.com

The shares of LeapFrog Enterprises Incorporated fell by a large margin after the maker of LeapPad electronic books showed a disappointing fourth-quarter profit and reported that its president would resign. A net income of $14.4 million was reported for the three months ending on December 31, 2005. In 2004, the firm suffered a loss of $7.5 million. Sales for the fourth quarter fell significantly short of analysts' expectations and was the first for 2005. Revenue in LeapFrog's international division fell by 29 percent, while sales in education and training decreased by 48 percent. Thomas Kalinske, chief executive officer (CEO) at the firm, says he is disappointed by the international and school divisions' performance. There is not the portfolio of products available in the international division to offset a decline in the LeapPad product line. The company plans to correct this situation in 2006. Kalinske will take on the responsibilities of Jerome Perez, the firm's president, as LeapFrog consolidates the positions of president and CEO. Kalinske says the company is attempting to signal its commitment to streamlining the organization, reducing bureaucracy, and speeding up the decision making process. Perez has been president of LeapFrog since 2004 and stated he would resign in the best interests of the company.

Companies:
LeapFrog Enterprises Inc

TecTerms:


[Get Copyright Permissions] Click here for copyright permissions!
Copyright 2004-2008 Information Sources Inc.
 


Home About TecTrends About Us Contact Us Privacy Statement Terms and Conditions

TecTrends | P.O. Box 8120 | Berkeley CA 94707 | (510) 525-6220 | Email: tectrends@tectrends.com
© 2006 INFORMATION SOURCES INC | All rights reserved.