I was having issues on my computer with the presentation, so I missed the first few minutes, then it said it ended as he was asking the first question of the Q&A. With that said here are the highlights from my view...
Last year Revenue was $425 million from U.S. (growing 11%/year over last few years), $156 million from international (29% growth/year over the last few years; 26% last year).
Operating margin was 11% last year, expect 11% this year. They expect to get it to 15% over the next few years (that would be HUGE IMHO).
Normalized (not counting tax benefits) EPS has risen from -$0.10 to $0.06 to $0.18 to $0.56 over the last 4 years. (seems to me that to expect only $0.57- $0.61, as they have guided , is extremely conservative, i.e. sandbagging hard).
Sales growth in Q1 was 15% (11% in U.S., 26% international).
New product line of tablets will be introduced in June (made a coment that they like to introduce them late in the year because the competitors products have previously looked an awful lot like theirs; i.e., they are copying our product)
Just entered the France market with a French leap pad.
Regarding question on Spanish Leap pad stated "we'll get there" (it was obvious that they are working on this).
Long and strong. $10.07/share is still giving your shares away on the cheap IMHO. Call me crazy, but I still think a reasonable valuation on these shares will be more like $20/share towards the end of 2013. I am expecting at least $0.80 normalized EPS this year though. Time will tell.
Thank you. Sounds as if you felt the overall presentation was pretty good. I think the thought process on the sandbagging has everything to do with their previous history. Barbour seems as if he wants everybody in the world to know that LF is all business. And he brought Arthur with him from Toys r us. I also think you're right about the current price but 10 actually feels damn good right now!! :) Thanks again.