BIRMINGHAM, AL (March 20, 2014) – Books-A-Million, Inc. (NASDAQ:BAMM) today announced financial results for the 13-week and 52-week periods ended February 1, 2014. Revenues for the 13-week period ended February 1, 2014 decreased 3.7% to $157.9 million, compared with revenues of $163.9 million in the 14-week year-earlier period. Comparable store sales for the fourth quarter, which include comparable 13-week periods this year and last year declined 1.8%, compared with the same period last year. Operating income decreased 7.5% to $13.5 million for the 13-week period ended February 1, 2014, compared with operating income of $14.6 million in the 14-week period ended February 2, 2013. Net income from continuing operations for the fourth quarter was $11.2 million, or $0.77 per diluted share, compared with net income from continuing operations of $8.1 million, or 0.52 per diluted share, in the year-earlier period.
For the 52-week period ended February 1, 2014, revenues decreased 5.6% to $470.3 million from net revenues of $498.4 million in the 53-week year-earlier period. Comparable store sales, which include comparable 52-week periods this year and last year, declined 6.8%. Operating loss was $1.5 million for the 52-week period ended February 1, 2014, compared with operating income of $7.0 million in the 53-week period ended February 2, 2013. For the 52-week period ended February 1, 2014, the Company reported a net loss from continuing operations of $8.7 million, or $0.54 per diluted share, compared with net income from continuing operations of $2.6 million, or $0.16 per diluted share, in the year-earlier period.
Commenting on the results, Terrance G. Finley, Chief Executive Officer and President, said, "We were pleased with our performance in the fourth quarter. We saw our core book business improve from the trends we experienced earlier in the year driven by a strong lineup of new titles. Our new business initiatives also performed well supported by consumer enthusiasm in pop culture, movies and media. Our team executed our plan admirably despite the challenges presented by the weather in both December and January.”
ABOUT BOOKS-A-MILLION, INC.
Books-A-Million, Inc. is one of the nation’s leading book retailers and sells on the Internet at www.booksamillion.com. The Company presently operates 256 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. Also included in the Company’s retail operations is the operation of Yogurt Mountain Holding, LLC, a retailer and franchisor of self-serve frozen yogurt stores with 43 locations. The Company also develops and manages commercial real estate investments through its subsidiary, Preferred Growth Properties. 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.
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