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Non-Tech : Barnes & Noble (BKS) -- Ignore unavailable to you. Want to Upgrade?

To: Crystal ball who wrote (1593)	11/18/1999 9:34:00 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 1691

Earnings out: EPS = + $.05 (vs consensus of + $.04?): biz.yahoo.com Some excerpts: >>>Consolidated net earnings for the quarter were $3.4 million, or $0.05 per share (based on 71.5 million shares) as compared with a consolidated net loss of ($4.6) million or ($0.07) per share (based on 68.6 million shares) for the same period last year. Earnings from the company's retail business increased 14.1 percent to $8.6 million or $0.12 per share (based on 71.5 million shares). Consolidated net earnings for the quarter consisted of net earnings of $0.12 per share from the retail business and a non-cash loss of $0.07 per share (based on 71.5 million shares) from the company's investment in barnesandnoble.com. Since barnesandnoble.com has nearly $600 million in cash and does not have any debt, the losses of barnesandnoble.com continue to represent a non-cash charge to Barnes & Noble, Inc. earnings. The company continues to generate strong cash flow from its retail business. Over the past 12 months, EBITDA from the retail business was $294 million, resulting in free cash flow of $144 million. Barnes & Noble completed its acquisition of Babbage's Etc. on October 28, 1999. While results for the third quarter do not reflect the acquisition, Babbage's Etc.'s third-quarter comparable store sales increased 55 percent. As expected, sales growth was driven by new platform and title introductions. Babbage's Etc. is one of the nation's largest operators of video game and entertainment software stores, with 502 stores under the Babbage's, Software Etc. and GameStop names, and a Web site, gamestop.com. The acquisition is expected to be accretive to Barnes & Noble's earnings by $0.10 per share for fourth quarter 1999. ''Barnes & Noble had a strong third quarter. Our store performance continues to be excellent and, by meeting customer needs and providing an extensive selection of books and related products, we are in position to have a strong holiday season,'' said Leonard Riggio, chairman and chief executive officer of Barnes & Noble, Inc. ''Babbage's Etc. further extends our selection of products into an exciting new area of tremendous growth, as evidenced by their extraordinary comparable store sales.''<<<