Barnes & Noble reports net income for 2Q

Associated Press Modified: November 29, 2012 at 11:12 am •  Published: November 29, 2012
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But the Nook faces tough competition from other new devices this holiday season, including Apple's iPad Mini, new Amazon Kindles and Google's Nexus tablet.

"They're maintaining their market share by way of promoting and discounting," said Morningstar analyst Peter Wahlstrom. "But it's a more competitive marketplace."

Net income totaled $2.2 million for the three months ended Oct. 27. That translates to a loss of 4 cents per share, however, after the impact of preferred stock dividends. That matched analysts' expectations, according to FactSet.

The results compare with a prior-year loss of $6.6 million, or 17 cents per share.

Revenue was nearly flat at $1.88 billion. Analysts expected revenue of $1.91 billion.

Revenue from stores fell 3 percent to $996 million. Its college bookstores' revenue rose less than 1 percent to $773 million. Revenue in stores open at least one year, excluding sales of Nook products, rose 1.8 percent.

The metric is considered a key gauge of a retailer's fiscal health because it excludes stores that open or close during the year.



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