MAIN NEWS HEADLINES
November 23 – November 30, 2006 Edition
3rd Quarter Sales
Inch Up; Losses Cut
BIRMINGHAM, AL/11/17/06Books-A-Million, Inc. reported a third-quarter sales increase of 3.2% to $110.7 million from sales of $107.3 million in the year-earlier period. Comparable store sales for the quarter increased 2.3% when compared with the 13-week period for the prior year. BAM also turned around net losses. The bookseller posted a net loss for the 2006 quarter of $201,000, significantly improved over the previous periods net loss of $873,000. Insurance recoveries for stores damaged by hurricanes reduced losses for the quarter.
For the 39-week period ended October 28, 2006, net sales increased 1.1% to $345.6 million from sales of $342.0 million in the year-earlier period. Comparable store sales increased 0.2% when compared with the same period of fiscal 2006. For the 39-week period, the Company reported net income of $3.8 million, or $0.22 per diluted share, compared with net income of $1.9 million, or $0.11 per diluted share, for the year-earlier period.
Commenting on the results, Sandra B. Cochran, President and Chief Executive Officer, said, We are pleased with our results for the quarter. Despite the difficult comparable store sales comparison with last year and the distractions of the political season, we were able to deliver solid results. The fourth quarter best seller lineup is solid, and we are focused on executing our merchandising and marketing plans for the holiday season.
The Company will pay a quarterly cash dividend of $0.08 per Common Share on December 15, 2006, to shareholders of record at the close of business on December 1, 2006.
Books-A-Million is one of the nations leading book retailers and sells on the internet at www.booksamillion.com. The Company presently operates 208 stores in 20 states and the District of Columbia. The Company operates large superstores under the names Books-A-Million and Books & Co. and traditional bookstores operating under the name Bookland, Books-A-Million and Joe Muggs Newsstands. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Stock Markets Global Select Market under the symbol BAMM.