Barnes & Noble (BKS) Reports Better-Than-Expected Q1 Loss; Declares $0.25 Dividend; Raises FY09 Outlook

Barnes & Noble, Inc. (NYSE: BKS) reports Q1 loss of $0.04, versus the analyst estimate of ($0.15). Revenue for the quarter was $1.1 billion, versus the consensus of $1.08 billion.

In addition, the company also announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share for stockholders of record at the close of business on June 9, 2009, payable on June 30, 2009.

Sees Q2 same store sales falling 5-7%, with EPS of $0.05-$0.15. The Street is currently looking for Q2 EPS of $0.03.

Raises its FY09 EPS guidance from $0.95-$1.25 to $1.10-1.40, versus the Street estimate of $1.07. Comps are raised from a decline of 4-6% to a decline of 3-5%.

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