Books-A-Million, Inc. Announces Record Sales.BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--March 17, 1999--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 fourth quarter and fiscal year ended January 30, 1999. 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 fourth quarter of fiscal 1999 increased 3.1% to a record $116.5 million from $113.0 million in the year-earlier period. Comparable store sales for the quarter were down 0.9%, a slight decrease from the prior-year 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 fourth quarter increased 0.8% to $14.5 million from $14.4 million in the year-earlier period. Net income for the final three months of fiscal 1999 was $6.5 million, or $0.37 per basic share, compared with $6.4 million, or $0.37 per basic share, in the year-earlier period. Net sales for all of fiscal 1999 increased 7.1% to a record $347.9 million from $324.8 million in fiscal 1998. Comparable store sales for the year decreased 2.8%. Earnings before interest, taxes and depreciation for fiscal 1999 decreased 9.1% to $24.7 million from $27.2 million in fiscal 1998. Net income for fiscal 1999 was $4.5 million, or $0.26 per basic share, compared with fiscal 1998 net income of $7.0 million, or $0.40 per basic share. 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 , President and Chief Executive Officer, said, "Although we are not yet satisfied with our comparable store sales, the fourth quarter saw marked improvement over the trend of the first three quarters. We are also encouraged by our operating performance in the quarter which enabled us to maintain earnings in the face of lower comparable store sales. "Our plans for fiscal year 2000 include a continued focus on the fundamentals of our business," Anderson continued. "Along with the continued enhancement and expansion of our e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. initiative at booksamillion.com, we will be adding stores in appropriate markets and growing our wholesale business. We also plan to expand our Joe Muggs coffee brand, both on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and through the Joe Muggs cafes." 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 175 stores in 17 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. -0-
BOOKS-A-MILLION, INC.
Unaudited Consolidated Financial Highlights
(In thousands, except per share data)
Fourth Quarter Ended
--------------------------
January 30, January 31,
1999 1998
-------- --------
Net sales $116,491 $113,045
Earnings before interest,
taxes and depreciation 14,527 14,414
Operating income 11,256 11,290
Net income $ 6,477 $ 6,373
======== ========
Earnings per share:
Basic $ 0.37 $ 0.37
======== ========
Diluted $ 0.36 $ 0.37
======== ========
Weighted average number of
shares outstanding:
Basic 17,697 17,428
======== ========
Diluted 18,136 17,428
======== ========
Fiscal Year Ended
-------------------------
January 30, January 31,
1999 1998
-------- --------
Net sales $347,877 $324,762
Earnings before interest,
taxes and depreciation 24,690 27,160
Operating income 11,716 15,572
Net income $ 4,514 $ 6,969
======== ========
Earnings per share:
Basic $ 0.26 $ 0.40
======== ========
Diluted $ 0.26 $ 0.40
======== ========
Weighted average number of
shares outstanding:
Basic 17,497 17,425
======== ========
Diluted 17,549 17,425
======== ========
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: Certain of the statements set forth herein are 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. Such statements are based on management's current intentions, assumptions and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, unanticipated increases in merchandise, salary and distribution costs distribution costs distribute npl → Vertriebskosten pl , and the effects of increased competition on specific stores and the Company generally. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion