LeapFrog

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LeapFrog (NYSE: LF) lost $27.1 million in the March down slightly from a lossof $27.4 million a year Sales tumbled to $29.99 million for the quarter, down from first-quartet sales a year earlier of $58.3 million. Jeffreu Katz, the Emeryville company’s chairman and CEO, said the losse s “were as we anticipated.” He said the businessz is “actively working with retailerw toreduce inventory.” Retailerws ordered fewer LeapFrog productds during the quarter because their inventories were high. The companu also sold fewer products to schools durinhg the quarter after restructurinvgits school-sale business last year.
Bill LeapFrog’s chief financial officer, stressed that the business is in a strongycash position. It had $85.23 million in cash and near moneuyat quarter’s end, and it has a $100 million line of credirt backed by its assets on which it has no outstanding CEO Katz was formerly CEO and chairman of travel business Before that he was president and CEO of and worked at . He studie mechanical engineeringat U.C. David and has master’s degrees from both and . Thoma s Kalinske, who was CEO befors Katz, is now vice chairman of LeapFrog. In the Kalinske was president and CEOof .
, a subsidiaryu of CEO Larry Ellison’sa LLC, owns a majority stake in LeapFrofg and put Paul Marinelli and Phililp Simon onthe company’s board in March.