By late morning, shares had climbed 10.1% to $7.52.
Over the three months to March, the company reported a net loss of 16 cents a share, 5 cents narrower than analysts surveyed by Thomson Reuters anticipated. Revenue of $56.9 million was 31.4% lower year over year, but beat forecasts of $49 million.
"Performance was about as we expected given the calendar shift of Easter into Quarter 2, higher levels of retail carryover inventory from Holiday 2013 across the key categories we play in and a continued challenging retail environment in our major markets," said CEO John Barbour in a statement.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates LEAPFROG ENTERPRISES INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation: "We rate LEAPFROG ENTERPRISES INC (LF) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
- You can view the full analysis from the report here: LF Ratings Report