Barnes & Noble Inc. (BKS: Quote) posted a narrower first-quarter net loss of $40.98 million, or $0.78 per share, compared with $56.61 million, or $0.99 per share last year. On average, 4 analysts polled by Thomson Reuters expected loss per share of $0.98 for the quarter. Analysts' estimates typically exclude one-time items.
Consolidated earnings before interest, taxes, depreciation and amortization or EBITDA for the latest quarter amounted to $4 million, as against a loss of $24 million a year ago.
Quarterly consolidated revenues increased 2.5% to $1.45 billion from the prior year's $1.42 billion. Analysts estimated revenues of $1.48 billion for the quarter.
William Lynch, Chief Executive of the company, noted, "During the first quarter, we continued to see improvement in both our rapidly growing NOOK business, which saw digital content sales increase 46% during the quarter, and at our bookstores, which continue to benefit from market consolidation and strong sales of the Fifty Shades series."
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by RTT Staff Writer
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