Barnes & Noble Posts Narrower Q4 Loss; Revenues Down 10.4% - Quick Facts

(RTTNews) - Barnes & Noble, Inc. (BKS) reported a fourth-quarter net loss to shareholders of $23.7 million, or $0.37 per share, compared to a loss of $42.6 million, or $0.72 per share, prior year.

On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

Consolidated fourth quarter earnings before interest, taxes, depreciation and amortization (EBITDA) improved to $32.6 million, compared to $11.2 million in the prior year.

Fourth quarter consolidated revenues decreased 10.4% to $1.18 billion from $1.32 billion, last year. Analysts expected revenue of $1.18 billion for the quarter.

The Retail segment, which includes Barnes & Noble Bookstores and BN.com, had revenues of $869 million for the quarter, decreasing 9.0% from last year. Comparable store sales declined 1.3% during the quarter. Core comparable store sales, which exclude sales of NOOK products, decreased 0.5% for the fourth quarter.

The NOOK segment (including digital content, devices and accessories) had revenues of $52 million for the quarter, decreasing 39.8% from last year.

The company noted that its fourth quarter consisted of 13 weeks, as compared to 14 weeks in the prior year quarter. Comparable sales exclude the impact of the additional week in fiscal 2014 and are on a comparable week basis.

For fiscal 2016, the company expects Retail core comparable bookstore sales, which exclude sales of NOOK products, to increase approximately 1%, while College comparable store sales are also expected to increase approximately 1%. The company also expects fiscal year EBITDA losses in the NOOK segment to decline from the prior year.