Books-A-Million, Inc. Posts Record Fourth Quarter and Year-end Sales; Comparable Store Sales Up 9.8% for Fourth Quarter; 8.2% for Year.Business Editors BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--March 15, 2000 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 29, 2000. 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 2000 increased 18.4% to $137.9 million from $116.5 million in the year-earlier period. Comparable store sales for the quarter increased 9.8%. 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 3.9% to $15.1 million from $14.5 million in the year-earlier period. Net income for the final three months of fiscal 2000 was $6.5 million, or $0.36 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 $6.5 million, or $0.36 per diluted share, in the year-earlier period. Net sales for all of fiscal 2000 increased 16.1% to a record $404.1 million from $347.9 million in fiscal 1999. Comparable store sales for the year increased 8.2%. Earnings before interest, taxes and depreciation for fiscal 2000 increased 11.9% to $27.6 million from $24.7 million in fiscal 1999. Net income for fiscal 2000 was $5.9 million, or $0.33 per diluted share, compared with fiscal 1999 net income of $4.5 million, or $0.26 per diluted share. Commenting on the results, Clyde B. Anderson, Chairman and Chief Executive Officer, said, "Thanks to the focus and effort of our dedicated associates, we were able to build upon the positive trend of the past four quarters and deliver outstanding comparable sales results for the fourth quarter and full year ended January 29, 2000. As previously reported, a strong performance from our collectors/Pokemon category and solid book sales contributed to our success. "Booksamillion.com also concluded a successful year," Anderson added. "Our investments in our direct-to-consumer fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. operations and in our web development subsidiary assured the smooth processing of our customers' orders during the demanding fourth quarter. "While these results are gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. , we believe that we must continue to improve profits through a continued focus on operational excellence and creative merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. . In addition, we intend to leverage our investment in new technologies to empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems our associates in providing the highest possible level of service to our customers -- in our stores and on the web," Anderson concluded. 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 180 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. 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. . For more information, visit the Company's website at www.booksamillioninc.com. A conference call with management to review fourth quarter and fiscal year results will take place at 5:00 p.m. EST P.M. also p.m. or p.m. abbr. post meridiem Usage Note: By definition, 12 a.m. on March 15. The call will be broadcast live via the Company's website and an Internet replay will also be accessible from http://www.booksamillioninc.com
BOOKS-A-MILLION, INC.
Unaudited Consolidated Financial Highlights
(In thousands, except per share data)
Fourth Quarter Ended
---------------------
Jan. 29, Jan. 30,
2000 1999
-------- --------
Net sales $137,890 $116,491
Earnings before interest, taxes and
depreciation 15,096 14,527
Operating income 11,400 11,256
Net income $ 6,536 $ 6,477
-------- --------
Earnings per share:
Basic $ 0.36 $ 0.37
======== ========
Diluted $ 0.36 $ 0.36
======== ========
Weighted average number of shares outstanding:
Basic 17,998 17,697
-------- --------
Diluted 18,212 18,136
-------- --------
Fiscal Year Ended
---------------------
Jan. 29, Jan. 30,
2000 1999
-------- --------
Net sales $404,057 $347,877
Earnings before interest, taxes and
depreciation 27,624 24,690
Operating income 13,794 11,716
Net income $ 5,941 $ 4,514
======== ========
Earnings per share:
Basic $ 0.33 $ 0.26
-------- --------
Diluted $ 0.33 $ 0.26
-------- --------
Weighted average number of shares outstanding:
Basic 17,981 17,497
======== ========
Diluted 18,250 17,554
======== ========
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; and other factors referenced herein. 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 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. |
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