Barnes & Noble (BKS) Posts Q2 GAAP Profit of 15c/Share; Comps Down 4.9%
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Barnes & Noble, Inc. (NYSE: BKS) reported Q2 GAAP EPS of $0.15, which may not compare with the analyst estimate of ($0.03). Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.77 billion.
Comps fell 4.9 percent.
The NOOK segment, which consists of the company’s digital business (including digital content, devices and accessories), reported revenues of $109 million for the quarter, decreasing 32.2% from a year ago. Digital content sales were $57 million for the quarter, a decline of 21.2 percent compared to a year ago, due to lower average selling prices and lower device unit sales. Device and accessories sales were $51 million for the quarter, a decrease of 41.3 percent from a year ago, due to lower unit selling volume and lower average selling prices.
Despite the sales decline, NOOK EBITDA losses decreased $6 million as compared to a year ago to $45 million on lower device markdowns and reduced expenses.
Barnes & Noble reaffirmed FY2014 guidance.
For earnings history and earnings-related data on Barnes & Noble, Inc. (BKS) click here.
Comps fell 4.9 percent.
During the second quarter, Barnes & Noble grew earnings through improved margins and reduced expenses, while also completing another successful College rush season,commented NOOK CEO Michael Huseby.
The company is focused on executing its plans for the holiday season and our booksellers are prepared to welcome holiday shoppers and recommend thoughtful gift ideas for everyone on their list. We have a terrific book title line-up this holiday season, a leading assortment of educational Toys & Games and a full selection of NOOK devices, including our recently released new NOOK GlowLight.
The NOOK segment, which consists of the company’s digital business (including digital content, devices and accessories), reported revenues of $109 million for the quarter, decreasing 32.2% from a year ago. Digital content sales were $57 million for the quarter, a decline of 21.2 percent compared to a year ago, due to lower average selling prices and lower device unit sales. Device and accessories sales were $51 million for the quarter, a decrease of 41.3 percent from a year ago, due to lower unit selling volume and lower average selling prices.
Despite the sales decline, NOOK EBITDA losses decreased $6 million as compared to a year ago to $45 million on lower device markdowns and reduced expenses.
Barnes & Noble reaffirmed FY2014 guidance.
For earnings history and earnings-related data on Barnes & Noble, Inc. (BKS) click here.
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