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By Rich Smith
February 17, 2005

Egads! The bad news just doesn't let up at educational toymaker LeapFrog (NYSE: LF), does it? In fulfillment of its December warning, which in turn built on its October warning, Tuesday saw LeapFrog's 2004 earnings come in, as predicted, "significantly below" $0.40 to $0.60 per share. As dire as that warning sounded, however, this week's news made it sound positively rosy in outlook. Far from just earning less than $0.40-plus, LeapFrog didn't earn anything at all in 2004. On the contrary, the company lost $0.13 per share for the year...

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