Books-A-Million announced its 4th quarter and year end results for 2007. Net sales for the 14-week period increased 8.4% to $174.6 million from sales of $161.1 million in the year-earlier period. Comparable store sales for the quarter decreased 2.4% when compared with the 13-week period for the prior year. Net income for the quarter was $15.1 million, or $0.90 per diluted share, compared with net income of $11.2 million, or $0.66 per diluted share, in the year-earlier period. For the fiscal year ended February 3, 2007, net sales increased 3.3% to $520.4 million from sales of $503.8 million in the prior year. Comparable store sales decreased 0.6% when compared with fiscal 2006. For the fiscal year ended February 3, 2007, the Company reported net income of $18.9 million, or $1.12 per diluted share, compared with net income of $13.1 million, or $0.77 per diluted share, for fiscal 2006.
Commenting on the results, Sandra B. Cochran, President and Chief Executive Officer, said, “I am pleased that we were able to deliver improved earnings despite the difficult year end sales environment. Improvements in margin, better inventory management and discipline in cost control contributed to these solid results. It was a tough fourth quarter for bookselling. A strong fiction lineup was not enough to offset a quiet media environment, the absence of a major book related movie tie-in and the lack of strong non fiction bestsellers.”