LeapFrog Enterprises(LF), which sells electronic educational products, posted Q1 revenue of $42.4 million, falling short of the Street consensus at $43.4 million. The company on a non-GAAP basis lost 33 cents a share in the quarter, worse than the Street consensus forecast for a loss of 28 cents.
For Q2, the company sees revenue up 20%-25% from a year ago, which implies $59.3 million to $61.2 million, about in line with the Street at $60.6 million. The company expects net loss to increase modestly from a year ago.
For all of 2010, LF affirmed its previous forecast for sales to rise 10% from 2009, with positive operating income and net income.
LF in late trading is off 72 cents, or 10.1%, to $6.40.
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