Barnes & Noble (BKS) Shares Slump as Q2 Earnings, Guidance Miss Expectations
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Price: $22.03 +1.94%
Revenue Growth %: -9.8%
Financial Fact:
Net loss attributable to Barnes & Noble, Inc.: -6.06M
Today's EPS Names:
CSS, STV, GIGM, More
Revenue Growth %: -9.8%
Financial Fact:
Net loss attributable to Barnes & Noble, Inc.: -6.06M
Today's EPS Names:
CSS, STV, GIGM, More
Trade BKS Now!
Barnes & Noble, Inc. (NYSE: BKS) shares are trading lower following a second quarter earnings report that missed expectations, and guidance that came in below the Street. The stock is down 12.6% in early trading.
BKS posted a net loss of $12.57 million, or $0.22 per share, compared to a loss of $23.96 million reported in Q210.
Revenues for the quarter came in at $1.91 billion, a 64% increase from $1.16 billion for the same period one year ago.
Overall, analysts were looking for a loss of $0.08 per share on revs of $1.98 billion.
Sales were boosted by a 1200% jump in sales for their College segment, from $65.25 million to $798.08 million.
Looking ahead, the company expects Q311 EPS of $0.90 - $1.20, compared to the consensus EPS of $1.29. Comparable-store sales are expected to be up 5% - 7%.
Additionally, FY11 loss is expected to be in a range of $0.75 - $1.15 per share, versus the consensus of ($0.40).
The company also updated on their strategic alternative process. They noted that the process is currently ongoing and the company is meeting with both strategic and financial institutions. Not transactions can be guaranteed.
No numbers were given for sales of NOOKcolor, though the product launched at the beginning of the quarter.
UPDATE: Click here to see some highlights from Barnes & Noble's Q2 conference call.
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BKS posted a net loss of $12.57 million, or $0.22 per share, compared to a loss of $23.96 million reported in Q210.
Revenues for the quarter came in at $1.91 billion, a 64% increase from $1.16 billion for the same period one year ago.
Overall, analysts were looking for a loss of $0.08 per share on revs of $1.98 billion.
Sales were boosted by a 1200% jump in sales for their College segment, from $65.25 million to $798.08 million.
Looking ahead, the company expects Q311 EPS of $0.90 - $1.20, compared to the consensus EPS of $1.29. Comparable-store sales are expected to be up 5% - 7%.
Additionally, FY11 loss is expected to be in a range of $0.75 - $1.15 per share, versus the consensus of ($0.40).
The company also updated on their strategic alternative process. They noted that the process is currently ongoing and the company is meeting with both strategic and financial institutions. Not transactions can be guaranteed.
No numbers were given for sales of NOOKcolor, though the product launched at the beginning of the quarter.
UPDATE: Click here to see some highlights from Barnes & Noble's Q2 conference call.
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