LeapFrog (NYSE:LF) reports sales in the U.S. segment fell 47% Y/Y to $47M in FQ1 and dropped 34% in its international segment.
Though the company is trying to look forward to new lines of products this year, a retail inventory carryover from last year's holiday season is still hampering its progress.
SG&A expenses were flat in FQ1 from a year ago, but on a percentage of sales basis they skyrocketed.
Guidance from the company is far from re-assuring, revenue isn't supposed to pick up until the December quarter and EPS for the full year is forecast to fall compared to a year ago.
LF -13.3% AH