For the full year 2013, we expect:
- Net sales to be in a range of $570 million to $590 million, which is up or down 2% compared to $581 million in 2012.
- Operating margin to be between 7% and 9%.
- Net income per diluted share (GAAP) and normalized net income per diluted share 2 (non-GAAP) to both be in the range of $0.36 to $0.46. This assumes an effective 37.5% tax rate which does not include one-time discrete tax items. We may incur some discrete tax items in 2013, but we are not able to estimate or anticipate those discrete tax items at this time, which primarily relate to any adjustment of our remaining valuation allowance against our deferred tax assets. For the full year 2012, net income per diluted share (GAAP) was $1.24 and normalized net income per diluted share 2 (non-GAAP) was $0.56.
- Capital expenditures to be in the range of $30 million to $35 million, compared to $25 million in 2012, as we make long-term, strategic investments in our business. Capital expenditures include purchases of property and equipment and capitalization of product costs.
Conference Call and Webcast
LeapFrog will hold a conference call to discuss third quarter 2013 financial results on November 4, 2013, at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time). The conference call will be webcast live and can be accessed at LeapFrog's investor relations web site at www.leapfroginvestor.com. An archive of the webcast will be available on the web site approximately three hours after completion of the call. In addition, more information about LeapFrog, including this press release and other financial and investor information, is also available on the investor relations web site.To participate in the call, please dial (706) 634-0183 and request conference ID 81128641. A replay of the call will be available for one month. To access the replay, please dial (404) 537-3406 and use conference ID 81128641.
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