Originally published at www.seclive.com
Barnes & Noble, Inc. (NYSE:BKS) announced its financial results for the third fiscal quarter 2013, reporting revenue that declined 10% from a year ago. The book retailer posted revenues of $1.99B, a 10.3% decline from the $2.22B in the year-ago quarter. Nook revenue fell 50% to $156.9M while earnings improved from an adjusted $190.4M loss a year ago to a $61.8M loss. Retail and college business segments saw a 6% sales decline though adjusted earnings showed a 3.9% increase in the college line, thanks to the spring back-to-school period. Overall results for third quarter were up from a $3.7M net loss a year ago with $0.14 losses per share to $63.2M profit and $0.86 per share. President and CEO Michael Huseby commented that the company improved its balance sheet during the quarter and that the company's core business performed well, managing promotions and capitalizing on sales.
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