LeapFrog Posts Profit Gain, Shuffles Execs

LeapFrog Enterprises Inc. said Tuesday that fourth-quarter profit rose 50%, on record sales of its learning toys.

The Emeryville, Calif.-based company also said it shuffled top management: Jerry Perez, former head of Mattel Inc.’s Fisher-Price unit, was named president. Michael Wood, who has been president and chief executive, is becoming “chief vision and creative officer,” and Chairman Thomas Kalinske is taking the CEO title.

Leapfrog said earnings rose to $44.2 million, or 72 cents a share, from $29.4 million, or 50 cents a year earlier. Sales jumped 33% to $331 million, near the high end of the company’s previous forecast. Profit lagged analysts’ average forecast by one penny.

LeapFrog’s shares plunged 25% in October after the company reported third-quarter profit and sales well below Wall Street estimates.

The stock rose $1.10 to $30.40 on the New York Stock Exchange on Tuesday, before the firm’s announcements.

LeapFrog’s toys center around LeapPad, a junior-sized laptop system that holds interactive workbooks.