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

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

Business Wire

BIRMINGHAM, Ala. -- May 28, 2013

Books-A-Million, Inc. (NASDAQ:BAMM) today announced financial results for the
13-week first quarter ended May 4, 2013. Net sales for the 13-week period
ended May 4, 2013 decreased 7.4% to $104.5 million, compared with sales of
$112.8 million in the year-earlier period. Comparable store sales for the
first quarter declined 6.8%, compared with the 13-week period in the prior
year. Net loss from continuing operations for the first quarter was $3.7
million, or $0.25 per diluted share, compared with net loss from continuing
operations of $1.9 million, or $0.13 per diluted share, in the year-earlier

Commenting on the results, Terrance G. Finley, Chief Executive Officer and
President, said, “Our first quarter results were slightly below our
expectations as we confronted the strong headwinds from the success last year
of the Hunger Game series and Fifty Shades of Grey. During the quarter we saw
a continued slowdown in the growth of eBook sales, strong performance in the
general merchandise categories and solid performance from”


Books-A-Million, Inc. is one of the nation’s leading book retailers and sells
on the Internet at The Company presently operates 253
stores in 33 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

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Unaudited Consolidated Financial Highlights
(In thousands, except per share data)

                                       13 Weeks Ended
                                        May 4,                   April 28,
                                        2013                     2012 (a)
NET SALES                          $    104,489              $   112,833
Cost of sales, including
warehouse, distribution and             76,171                  82,143    
store occupancy costs
GROSS PROFIT                            28,318                   30,690
Operating, selling and                  29,133                   28,787
administrative expenses
Depreciation and amortization           4,291                   4,149     
OPERATING LOSS                          (5,106     )             (2,246    )
Interest expense, net                   464                     438       
OPERATIONS BEFORE INCOME                (5,570     )             (2,684    )
Income tax benefit                      (2,029     )             (844      )
Net loss from continuing
operations before equity                (3,541     )             (1,840    )
method investments
Net loss on equity method               (147       )             (102      )
NET LOSS FROM CONTINUING                (3,688     )             (1,942    )
Loss from discontinued
operations, net of income tax           (16        )             --        
NET LOSS                           $    (3,704     )         $   (1,942    )
Net loss from continuing           $    (0.25      )         $   (0.13     )
Net loss from discontinued              --                      --        
Net loss per share                 $    (0.25      )         $   (0.13     )
Weighted average shares                 14,844                  15,343    
Net loss from continuing           $    (0.25      )         $   (0.13     )
Net loss from discontinued              --                      --        
Net loss per share                 $    (0.25      )         $   (0.13     )
Weighted average shares                 14,844                  15,343    

(a) The results for the 13-weeks ended April 28, 2012, contain certain
reclassifications for discontinued operations and other insignificant
reclassifications necessary to conform to the presentation of the 13-weeks
ended May 4, 2013.

Safe Harbor Statement under the Private Securities Litigation Reform Act of

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


Books-A-Million, Inc.
R. Todd Noden, 205-909-4808
Chief Financial Officer
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