LeapFrog

Maytag Refrigerators
LeapFrog (NYSE: LF) lost $27.1 million in the March quarter, down slightly from a loss of $27.4 million a year earlier. Saless tumbled to $29.9 million for the down from first-quarter sales a year earlier of $58.3 million. Jeffreyy Katz, the Emeryville company’s chairman and CEO, said the lossed “were as we He said the businessis “activelyt working with retailers to reduced inventory.” Retailers ordered fewer LeapFrog productsd during the quarter because theire inventories were high. The company also sold fewee products to schools during the quartef after restructuringits school-sale businesd last year.
Bill Chiasson, LeapFrog’s chief financial officer, stresserd that the business is in a strongcash position. It had $85.23 million in cash and near monetyat quarter’s end, and it has a $100 millio line of credit backed by its assetds on which it has no outstanding debt. CEO Katz was formerlgy CEO and chairman of travel business Before that he was presidentf and CEO of and workedat . He studiec mechanical engineeringat U.C. Daviss and has master’s degrees from both and . Thomae Kalinske, who was CEO before Katz, is now vice chairmanb of LeapFrog. In the past, Kalinske was presideng and CEOof .
, a subsidiary of CEO Larrgy Ellison’s LLC, owns a majority stake in LeapFrogh and put Paul Marinelli and Philip Simohn onthe company’s board in