A large decline in the net loss in its Nook division helped net income increase 14% at Barnes & Noble in the third quarter ended January 31, 2015 over the comparable period in fiscal 2014. Net income rose to $72.1 million, while EBITDA also increased 14%, to $197.4 million. Total revenue fell 1.7%, to $1.97 billion. The downsizing of its Nook division cut the loss in the unit to $29.3 million in the quarter from $61.8 million in last year’s third quarter. Revenue also fell significantly, declining about 50%, to $77.5 million. According to B&N, device and accessories sales fell 63%, to $37 million, while digital content sales dropped 29.3%, to $41 million. The sales decline was attributed to “lower device unit sales volume.”Wednesday, March 11, 2015
Profits Rose 14% at Barnes &Noble in Third Quarter
A large decline in the net loss in its Nook division helped net income increase 14% at Barnes & Noble in the third quarter ended January 31, 2015 over the comparable period in fiscal 2014. Net income rose to $72.1 million, while EBITDA also increased 14%, to $197.4 million. Total revenue fell 1.7%, to $1.97 billion. The downsizing of its Nook division cut the loss in the unit to $29.3 million in the quarter from $61.8 million in last year’s third quarter. Revenue also fell significantly, declining about 50%, to $77.5 million. According to B&N, device and accessories sales fell 63%, to $37 million, while digital content sales dropped 29.3%, to $41 million. The sales decline was attributed to “lower device unit sales volume.”
