Books-A-Million, Inc. Announces Third Quarter Results.Business EditorsBIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--Nov. 20, 2002 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 nine months ended November 2, 2002. 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 of fiscal 2003 decreased 0.6% to $97.2 million from $97.8 million in the year-earlier period. Comparable store sales for the quarter decreased 2.6%. Comparable book sales for all book categories increased 1.6% when compared with the same 13-week period last year. 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. decreased 27.1% to $1.5 million for the third quarter of fiscal 2003 compared with $2.0 million in the year-earlier period. Net loss for the quarter was $2.4 million, or $0.15 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared with a net loss of $1.9 million, or $0.11 per diluted share, in the year-earlier period. For the 39-week period ended November 2, 2002, net sales increased 1.2% to $303.0 million from sales of $299.3 million. Comparable store sales decreased 1.5% when compared with the same period of fiscal 2002. Comparable book sales for all book categories increased 1.6% when compared with the same 39-week period last year. Earnings before interest, taxes and depreciation for the year decreased 7.0% to $9.7 million from $10.5 million in the year-earlier period. For the 39-week period, the Company reported a net loss of $3.5 million, or $0.21 per diluted share, compared with a net loss of $3.0 million, or $0.18 per diluted share for the year-earlier period. Commenting on the results, Clyde B. Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic , Chairman and Chief Executive Officer, said, "Non-book categories continue to be softer than expected, resulting in lower overall comparable sales and the net loss for the quarter. However, book categories once again performed well during the quarter. The fiction category posted solid increases with titles by well-known authors such as 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 , 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 and Nicholas Sparks Nicholas Sparks may refer to:
However, based on the anticipation of continued weakness in consumer demand, the Company continues to expect fourth quarter earnings to be lower than previously issued guidance. Since the Company is unable to quantify Quantify - A performance analysis tool from Pure Software. the impact at this time, no revised guidance is being provided. Books-A-Million is one of the nation's leading book retailers and sells on the Internet at www.booksamillion.com. The Company presently operates 209 stores in 18 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . The Company operates four distinct store formats, including large superstores This is a list of superstores by country. Multi-national
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. , and Joe Muggs Newsstands. The Company's wholesale operations include American Wholesale Book Company and Book$mart, both based in Florence, Alabama Florence city is the seat of Lauderdale County, which is situated in the northwest corner of the U.S. state of Alabama. According to the 2005 Census Bureau estimates, the city's population was 36,721. . NetCentral, Inc., an Internet development and service Company is located in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. .
BOOKS-A-MILLION, INC.
Unaudited Consolidated Financial Highlights
(In thousands, except per share data)
Third Quarter Ended
----------------------
Nov. 2, Nov. 3,
2002 2001
--------- ---------
Net sales $ 97,194 $ 97,812
Earnings before interest, taxes and
depreciation 1,480 2,030
Operating loss (2,634) (1,878)
Net loss $ (2,423) $ (1,866)
========= =========
Loss per share - basic and diluted $ (0.15) $ (0.11)
========= =========
Weighted average number of shares outstanding:
Basic 16,200 16,417
========= =========
Diluted 16,200 16,417
========= =========
Thirty-Nine Weeks Ended
-----------------------
Nov. 2, Nov. 3,
2002 2001
--------- ---------
Net sales $ 303,039 $ 299,313
Earnings before interest, taxes and
depreciation 9,718 10,453
Operating loss (2,366) (1,228)
Net loss $ (3,456) $ (2,957)
========= =========
Loss per share - basic and diluted $ (0.21) $ (0.18)
========= =========
Weighted average number of shares outstanding:
Basic 16,187 16,837
========= =========
Diluted 16,187 16,837
========= =========
Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This document contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. In addition, such forward-looking statements are necessarily dependent upon assumptions, estimates and dates that may be incorrect or imprecise im·pre·cise adj. Not precise. im  pre·cise ly adv. and involve known
and unknown risks, uncertainties and other factors. Accordingly, any
forward-looking statements included herein do not purport To convey, imply, or profess; to have an appearance or effect.The purport of an instrument generally refers to its facial appearance or import, as distinguished from the tenor of an instrument, which means an exact copy or duplicate. PURPORT, pleading. to be predictions of future events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or and may not be realized. Given these uncertainties, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. 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.
BOOKS-A-MILLION, INC.
Consolidated Statements of Income
For Thirteen and Thirty-nine Weeks Ended November 2, 2002
and November 3, 2001
(In thousands, except per share data)
(UNAUDITED)
13 Weeks Ended 39 Weeks Ended
---------------------- ----------------------
Nov. 2, Nov. 3, Nov. 2, Nov. 3,
2002 2001 2002 2001
--------- --------- --------- ---------
NET SALES $ 97,194 $ 97,812 $ 303,039 $ 299,313
Cost of sales
(including
warehouse,
distribution
and store
occupancy costs) 74,566 73,605 227,445 222,778
--------- --------- --------- ---------
GROSS PROFIT 22,628 24,207 75,594 76,535
Operating, selling
and
administrative
expenses 21,148 22,177 65,876 66,082
--------- --------- --------- ---------
EBITDA 1,480 2,030 9,718 10,453
Depreciation and
amortization 4,114 3,908 12,084 11,681
--------- --------- --------- ---------
OPERATING LOSS (2,634) (1,878) (2,366) (1,228)
Interest expense,
net 1,274 1,133 3,208 3,542
--------- --------- --------- ---------
LOSS BEFORE INCOME
TAXES (3,908) (3,011) (5,574) (4,770)
Income tax benefit (1,485) (1,145) (2,118) (1,813)
--------- --------- --------- ---------
NET LOSS $ (2,423) $ (1,866) $ (3,456) $ (2,957)
========= ========= ========= =========
Basic and diluted
loss per share $ (0.15) $ (0.11) $ (0.21) $ (0.18)
========= ========= ========= =========
Weighted average shares outstanding:
basic and diluted 16,200 16,417 16,187 16,837
========= ========= ========= =========
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