Leapfrog Enterprises Jumps 11% After Hours (LF)

Shares of Leapfrog Enterprises Inc

are up nearly 11% at $6.10 per share in after hours trading, following the company's release of financial results on Monday after the market closed that beat Wall Street estimates. Leapfrog Enterprises Inc announced 3rd quarter net income of $15.79 million, or 24 cents per share, up from $7.22 million, or 11 cents per share, a year earlier. Revenue climbed to $137.96 million, up from $111.91 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 18 cents per share, on revenue of $132.75 million. Leapfrog Enterprises Inc (

) finished the trading day at $5.50 per share. The consensus price target of analysts covering the company's stock is $7.40 per share. Chief executive officer Bill Chiasson said, "We have good momentum as we head into the critical holiday season. Globally, our point-of-sale results are strong, aided by the recent introduction of the highly innovative Leapster Explorer™ Mobile Learning System, as well as the continued growth of the Tag™ Reading System. Additionally, we continue to grow our Learning Path ecosystem, which now has about 4 million connected customers, to create unique and personalized communications. This is up from approximately 3 million connected consumers as we entered the year. As a result, we are poised to deliver strong sales growth for the year, as well as improved profitability." The company forecast full-year earnings of 20 cents to 30 cents per share. Read more