This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Books-A-Million, Inc. Announces Fourth Quarter Results

Books-A-Million, Inc. (NASDAQ:BAMM) today announced financial results for the fourth quarter and 52-week period ended January 28, 2012. Net sales from continuing operations for the 13-week period ended January 28, 2012 increased 10.7% to $166.9 million from net sales of $150.8 million in the year-earlier period. Comparable store sales for the fourth quarter declined 5.7%, compared with the 13-week period in the prior year. Net income from continuing operations for the fourth quarter was $7.6 million, or $0.48 per diluted share, compared with net income from continuing operations of $6.7 million, or $0.43 per diluted share, in the year-earlier period. During the quarter, the company incurred costs of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new BAM! stores that occurred in October and November. These costs total $5.4 million for the 52-week period ended January 28, 2012.

For the 52-week period ended January 28, 2012, net sales from continuing operations decreased 3.6% to $468.5 million from net sales from continuing operations of $486.1 million in the year-earlier period. Comparable store sales declined 9.5%, compared with the same period in the prior year. For the 52-week period ended January 28, 2012, the Company reported net loss from continuing operations of $2.5 million, or ($0.16) per diluted share, compared with net income from continuing operations of $9.0 million, or $0.57 per diluted share, in the year-earlier period.

Commenting on the results, Clyde B. Anderson, Chairman and Chief Executive Officer, said, “We were pleased with the holiday season and the improved sales results in the fourth quarter. Our investments in the new stores yielded our strongest fourth quarter performance in years, our new businesses performed well and the erosion of the core book business slowed from the pace we faced earlier in the year. Our balance sheet remains strong, and we are focused on establishing BAM! stores as the premiere destination for books, toys, tech and more.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,893.50 -34.70 -0.19%
S&P 500 2,086.08 -3.38 -0.16%
NASDAQ 4,926.26 -13.0670 -0.26%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs