BOOKS-A-MILLION REPORTS THIRD QUARTER RESULTS; Revenues Up 32% to a Record $64.5 Million 21 New Superstores Opened to Date.BIRMINGHAM, Ala.--(BUSINESS WIRE)--Nov. 21, 1996--Books-A-Million, Inc. (Nasdaq/NM:BAMM BAMM British Association of Medical Managers BAMM Bay Area Model Mugging (now Impact Bay Area) BAMM Beta and Advection Model - Medium BAMM Bay Area Math Meet (San Francisco, CA) ) today announced financial results for the third quarter and first nine months of fiscal 1997. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the third quarter ended November 2, 1996, increased 32% to a record $64.5 million from $48.8 million in the year-earlier period. Earnings before interest, taxes, and depreciation Earnings before interest, taxes, and depreciation (EBITD) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses. In other words, operating and nonoperating profit before the deduction of interest and income taxes. for the third quarter increased 13% to $3.4 million from $3.0 million in the year-earlier period. Net income for the quarter was $21,000, or breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations on a per share basis, compared with $644,000, or $.04 per share, for the third quarter last year. Net sales for the first nine months of fiscal 1997 increased 25% to $181.5 million from $144.8 million in the year-earlier period. Earnings before interest, taxes and depreciation EBITD is an initialism or acronym for Earnings Before Interest, Taxes and Depreciation. See EBITDA. Some people find it useful to know this value for a business. for the first nine months of fiscal 1997 increased 11% to $11.2 million from $10.1 million in the year-earlier period. Net income for the for the nine-month period in fiscal 1997 was $1.5 million, or $.09 per share, compared with net income for the similar period last year of $1.4 million, or $.08 per share. Net income for the first nine months of the previous fiscal year included a one-time store-closing charge of $1.8 million after tax, or $0.11 per share. Commenting on the results, Clyde B. Anderson, president and chief executive officer, said, "Increased competition in some of our markets and the effects of some of our own store openings in markets with existing company stores continued to exert pressure on our comparable store sales. Comparable store sales for the third quarter were down 1.4% for superstores and 2.3% for all stores. We have been successful in improving the sales of our collector products, an area of weakness earlier in the year and, while sales of bargain books have also improved, we continue to focus our efforts in this area to respond to rapidly changing industry dynamics. "As we enter the most important quarter of our fiscal year, we have opened 21 of the 25 new superstores scheduled for the year. New books that we anticipate doing well during the holiday season include: Make the Connection, by Oprah Winfrey “Oprah” redirects here. For the show, see The Oprah Winfrey Show. Oprah Gail Winfrey (born January 29, 1954) is the American multiple-Emmy Award winning host of The Oprah Winfrey Show, the highest-rated talk show in television history. ; Airframe, by Michael Crichton; Silent Honor, by Danielle Steele; Down in the Garden, by Anne Geddes Anne Geddes, MNZM, (born September 1956) is an Australian-born photographer, clothing designer and businesswoman who now lives and works in New Zealand. She is well-known for her stylised depictions of babies and motherhood. ; and perennial bestsellers from Stephen King <noinclude></noinclude>
Stephen Edwin King (born September 21, 1947) is an American author of over 200 stories including over 50 bestselling horror and , Tom Clancy For the member of the Irish folk band The Clancy Brothers, see Tom Clancy (singer) and for the American Celticist, see Thomas Owen Clancy. Thomas Leo Clancy Jr. (born April 12 1947), better known as Tom Clancy and John Grisham “Grisham” redirects here. For other uses, see Grisham (disambiguation). John Ray Grisham (born February 8, 1955) is a former politician, retired attorney, American novelist and author best known for his works of modern legal drama. ," Anderson concluded. Books-A-Million, Inc. is one of the dominant book retailers in the southeastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company presently operates 148 bookstores in 17 states. The Company operates three distinct store formats, including large superstores operating under the names Books-A-Million and Books & Co., traditional bookstores and combination book and greeting card stores, both operating under the name Bookland Book´land` n. 1. (O. Eng. Law) Charter land held by deed under certain rents and free services, which differed in nothing from free socage lands. This species of tenure has given rise to the modern freeholds. . -0-
BOOKS-A-MILLION, INC.
Unaudited Consolidated Financial Highlights
(In thousands, except per share data)
13 Weeks Ended
November 2, October 28,
1996 1995
Net sales $ 64,505 $ 48,766
Earnings before interest,
taxes and depreciation 3,411 3,021
Operating income 878 1,270
Net income $ 21 $ 644
Net income per share $ 0.00 $ 0.04
Weighted average number of
shares outstanding 17,409 17,381
39 Weeks Ended
November 2, October 28,
1996 1995
Net sales $181,549 $144,810
Earnings before interest, taxes
and depreciation
(before store closing charge) 11,224 10,069
Operating income
(before store closing charge) 4,348 5,406
Net income $ 1,510 $ 1,397
Net income per share $ 0.09 $ 0.08
Net income (excluding store
closing charge) $ 1,510 $ 3,222
Net income per share (excluding
store closing charge) $ 0.09 $ 0.19
Weighted average number of
shares outstanding 17,404 17,366
CONTACT: Books-A-Million, Inc., Birmingham Sandra B. Cochran, 205/942-3737 |
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