Books-A-Million, Inc. Announces Third Quarter Results

  Books-A-Million, Inc. Announces Third Quarter Results

                          Total Sales Increase 11.0%

Business Wire

BIRMINGHAM, Ala. -- November 20, 2012

Books-A-Million, Inc. (NASDAQ:BAMM) today announced financial results for the
13-week and 39-week periods ended October 27, 2012. Net sales for the 13-week
period ended October27, 2012, increased 11.0% to $104.7 million compared with
sales of $94.4 million in the year-earlier period. Comparable store sales for
the third quarter decreased 3.6%, compared with the 13-week period in the
prior year. Net loss from continuing operations for the third quarter was $2.8
million, or $0.18 per diluted share, compared with net loss from continuing
operations of $3.8 million, or $0.24 per diluted share, in the year-earlier
period.

For the 39-week period ended October 27, 2012, net sales increased 12.2% to
$338.2 million from net sales of $301.6 million in the year-earlier period.
Comparable store sales declined 2.4% compared with the same period in the
prior year. For the 39-week period ended October 27, 2012, the Company
reported net loss from continuing operations of $5.6 million, or $0.37 per
diluted share, compared with net loss from continuing operations of
$10.1million, or $0.64 per diluted share, in the year-earlier period.

Commenting on the results, Terrance G. Finley, Chief Executive Officer and
President, said, “Sales for the third quarter reflect stabilization in our
core book business and improvements in our toys & game, and other general
merchandise sales. We are focused on the upcoming holiday season and bringing
our customers an expanded offering of gifts across a broad range of
categories; the best books, toys, tech and more.”

ABOUT BOOKS-A-MILLION, INC.

Books-A-Million, Inc. is one of the nation’s leading book retailers and also
sells on the Internet at www.booksamillion.com. The Company presently operates
257 stores in 31 states and the District of Columbia. The Company operates
large superstores under the names Books-A-Million (BAM!), Books & Co. and 2nd
& Charles and traditional bookstores operating under the names Bookland and
Books-A-Million. The common stock of Books-A-Million, Inc. is traded on the
NASDAQ Global Select Market under the symbol BAMM. For more information, visit
the Company’s corporate website at www.booksamillioninc.com.

Follow Books-A-Million on Twitter (http://twitter.com/booksamillion) and like
us on Facebook (http://facebook.com/booksamillion).


BOOKS-A-MILLION, INC.
Unaudited Consolidated Financial Highlights
(In thousands, except per share data)

                  Thirteen Weeks Ended           Thirty-Nine Weeks Ended
                    October 27,     October 29,       October       October
                    2012          2011 (a)          27,         29,
                                                      2012          2011 (a)
                                                                    
Net sales           $  104,717      $  94,374         $ 338,236     $ 301,586
Cost of
products sold,
including
warehouse             77,210         70,231          246,390      219,556
distribution
and store
occupancy costs
Gross profit           27,507          24,143           91,846        82,030
Operating,
selling and            27,838          28,245           87,219        86,270
administrative
expenses
Depreciation
and                   4,132          4,028           12,406       11,794
amortization
Operating loss
from continuing        (4,463)         (8,130)          (7,779)       (16,034)
operations
Interest              439            367             1,330        942
expense, net
Loss from
continuing
operations,            (4,902)         (8,497)          (9,109)       (16,976)
before income
taxes
Income tax            (2,298)        (4,711)         (3,763)      (6,609)
benefit
Net loss from
continuing
operations             (2,604)         (3,786)          (5,346)       (10,367)
before equity
method
investment
Net income
(loss) on             (171)          23              (252)        309
equity method
investment
Net loss from
continuing             (2,775)         (3,763)          (5,598)       (10,058)
operations
Loss from
discontinued          - -            (194)           - -          (307)
operations
Net loss            $  (2,775)      $  (3,957)        $ (5,598)     $ (10,365)
                                                                    
                                                                    
Net loss per
share, basic
and diluted:
Net loss from
continuing          $  (0.18)       $  (0.24)         $ (0.37)      $ (0.64)
operations
Net loss from
discontinued          - -            (0.01)          - -          (0.02)
operations
Net loss per        $  (0.18)       $  (0.25)         $ (0.37)      $ (0.66)
common share
Weighted
average number
of shares             15,286         15,815          15,331       15,733
outstanding –
basic and
diluted
                                                                      

(a) The results for 13-weeks and 39-weeks ended October 29, 2011, contain
certain insignificant reclassifications necessary to conform to the
presentation of the 13-weeks and 39-weeks ended October 27, 2012.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:

This document contains certain forward-looking statements 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 the impact of the availability of e-content and the e-reader
market. In addition, such forward-looking statements are necessarily dependent
upon assumptions, estimates and dates that may be incorrect or imprecise and
involve known and unknown risks, uncertainties and other factors. Accordingly,
any forward-looking statements included herein do not purport to be
predictions of future events or circumstances and may not be realized. Given
these uncertainties, stockholders and prospective investors are cautioned not
to place undue reliance on such forward-looking statements. Please refer to
the Company’s annual, quarterly and periodic reports on file with the SEC for
a more detailed discussion of these and other risks that could cause results
to differ materially. 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.

Contact:

Books-A-Million, Inc.
R. Todd Noden, 205-942-4808
Chief Financial Officer
 
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