NEW YORK (TheStreet) -- Shares of LeapFrog (LF) were falling 18.8% to $1.68 after-hours Thursday after the educational entertainment company missed analysts' estimates for earnings and revenue in the fiscal fourth quarter.
LeapFrog reported a loss of 56 cents a share for the fourth quarter, below analysts' estimates of a loss of 21 cents for the quarter. Revenue fell 40.4% year over year to $33.93 million, below analysts' estimates of $48.33 million.
"We will continue to prudently manage expenses and cash as we stabilize the business and position LeapFrog for long-term growth," CFO Ray Arthur said in a statement. "We expect fiscal year 2016 sales to contract considerably relative to the prior year, and operating losses for fiscal year 2016 to be similar to or greater than fiscal year 2015 losses, excluding goodwill and long-lived asset impairments."