LeapFrog Dives More Than 20% After More Disappointing Results

The long fall of LeapFrog Enterprises Inc. hit another sudden decline Monday afternoon, with shares falling more than 20% after a disappointing earnings result. The electronic-toy company reported a net loss of $34.1 million, or 48 cents a share, on revenue of $67.2 million, representing a sales decline of more than 40% from the same quarter a year ago. Analysts polled by FactSet expected a loss of 18 cents a share on sales of $88.1 million. The company announced in October it was cutting more than a quarter of its work force, and Chairman Bill Chiasson said in Monday's announcement that the company is still exploring strategic alternatives. Shares, which have dropped more than 80% this year, fell to less than 70 cents in late trading Monday after closing at 85 cents.