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Barnes & Noble Reports Net Income for 2Q

Thu, 11/29/2012 - 5:51am
Associated Press

NEW YORK — Barnes & Noble is reporting a profit for its fiscal second-quarter as higher revenue from its Nook e-book and e-bookstore division offset a decline at retail stores.

The largest traditional book retailer says net income totaled $2.2 million for the three months ended Oct. 27. That translates to a loss of 4 cents per share, however, when accounting for the impact of the dividend on redeemable preferred shares. That matched analysts' expectations.

The results compare with a prior-year loss of $6.6 million, or 17 cents per share.

Revenue was nearly flat at $1.88 billion. Analysts expected revenue of $1.91 billion.

Revenue from stores fell 3 percent to $996 million. Its college bookstores' revenue rose less than 1 percent to $773 million. Its Nook unit revenue rose nearly 6 percent to $160.3 million.

 

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