LeapFrog Enterprises, Inc. (LF) Thursday reported a wider loss for the fourth quarter, hurt largely by a hefty asset impairment charge and lower revenues. Shares of the company plunged over 18 percent in the after-hours trading, following the news.
California-based LeapFrog's loss for the quarter widened to $76.2 million or $1.08 per share from $11.8 million or $0.17 per share last year.
Results for the quarter included asset impairment charge of $36.5 million. Excluding items, adjusted loss for the quarter was $39.7 million or $0.56 per share.
Net sales for the quarter dropped 40 percent to $33.9 million from $56.9 million last year.
Analysts polled by Thomson Reuters estimated loss of $0.21 per share for the quarter. Analysts' estimates typically exclude one-time items.
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