Net sales at Books-A-Million in the third quarter ended October 29 rose
3.4% to $107.6 million and the net loss was $873,000 compared to a net
loss of $1.2 million in the same period in 2004. While the company had
said that hurricanes had dampened sales at its stores throughout the
South, earnings in the quarter were helped by $770,000 in gains from
insurance recoveries for three stores permanently damaged by hurricanes
during the past fiscal year.
Noting that BAM's results exceeded its previous predictions, president and CEO Sandra B. Cochran said that the company is "working hard to prepare for the holiday season, with a solid lineup of new books, including several strong movie tie-ins that we believe will create excitement in our stores." The company is raising its estimates of net income for the fiscal year by several cents a share--the estimates include the insurance gain.
During the quarter, sales at stores open a year rose 0.6%. For the first nine months of the fiscal year, comp-stores sales were up 2.9%.
BAM is paying a dividend of five cents a share on December 13.
Noting that BAM's results exceeded its previous predictions, president and CEO Sandra B. Cochran said that the company is "working hard to prepare for the holiday season, with a solid lineup of new books, including several strong movie tie-ins that we believe will create excitement in our stores." The company is raising its estimates of net income for the fiscal year by several cents a share--the estimates include the insurance gain.
During the quarter, sales at stores open a year rose 0.6%. For the first nine months of the fiscal year, comp-stores sales were up 2.9%.
BAM is paying a dividend of five cents a share on December 13.