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


Books-A-Million, Inc. is one of the nation’s leading book retailers and also sells on the Internet at The Company presently operates 258 stores in 31 states and the District of Columbia. The Company operates large superstores under the names Books-A-Million (BAM!), Books & Co. and 2nd & Charles and traditional bookstores operating under the names Bookland and Books-A-Million. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Global Select Market under the symbol BAMM. For more information, visit the Company’s corporate website at

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Unaudited Consolidated Financial Highlights

(In thousands, except per share data)
    Thirteen Weeks Ended     Twenty-Six Weeks Ended
July 28, 2012     July 30, 2011 July 28, 2012     July 30, 2011
(a) (a)
Net sales $ 120,418 $ 104,813 $ 233,518 $ 207,212

Cost of products sold, including warehouse distribution and store occupancy costs
  86,781     75,189     169,041     149,371  
Gross profit 33,637 29,624 64,477 57,841

Operating, selling and administrative expenses
30,587 28,906 59,519 58,024
Depreciation and amortization   4,121     3,854     8,275     7,766  
Operating loss from continuing operations (1,071 ) (3,136 ) (3,317 ) (7,949 )
Interest expense, net   452     356     890     575  

Loss from continuing operations, before income taxes
(1,523 ) (3,492 ) (4,207 ) (8,524 )
Income tax benefit   (621 )   (378 )   (1,465 )   (1,934 )

Net loss from continuing operations before equity method investment
(902 ) (3,114 ) (2,742 ) (6,590 )
Net income (loss) on equity method investment   21     240     (81 )   286  
Net loss from continuing operations (881 ) (2,874 ) (2,823 ) (6,304 )
Loss from discontinued operations   - -  

(24 )   - -     (105 )
Net loss $ (881 ) $ (2,898 ) $ (2,823 ) $ (6,409 )
Net loss per share:
Basic and Diluted
Net loss from continuing operations $ (0.06 ) $ (0.18 ) $ (0.18 ) $ (0.40 )
Net loss from discontinued operations   - -     - -     - -     (0.01 )
Net loss per common share $ (0.06 ) $ (0.18 ) $ (0.18 ) $ (0.41 )

Weighted average number of shares outstanding – basic and diluted
  15,365     15,737     15,354     15,692  


The results for 13-weeks and 26-weeks ended July 30, 2011, contain certain insignificant reclassifications necessary to conform to the presentation of the 13-weeks and 26-weeks ended July 28, 2012 due to discontinued operations.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. A number of factors could cause actual results, performance, achievements of the Company or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the competitive environment in the book retail industry in general and in the Company's specific market area; inflation; economic conditions in general and in the Company's specific market areas; the number of store openings and closings; the profitability of certain product lines, capital expenditures and future liquidity; liability and other claims asserted against the Company; uncertainties related to the Internet and the Company's Internet initiative; and the impact of the availability of e-content and the e-reader market. In addition, such forward-looking statements are necessarily dependent upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included herein do not purport to be predictions of future events or circumstances and may not be realized. Given these uncertainties, stockholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. Please refer to the Company’s annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially. The Company disclaims any obligations to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

Copyright Business Wire 2010
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