Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Kearney who wrote (96621)	3/16/2000 11:26:00 AM
From: Glenn D. Rudolph	Respond to of 164684

March 16, 2000 For Fiscal 1999, Barnes & Noble, Inc. Reports: --Record Bookstore EPS of $1.62, up 23 Percent-- --Babbage's Etc adds $0.10 per share-- --EBITDA of $344 million-- --Market Share Gains In Stores and Online-- New York, NY (March 16, 2000)-Barnes & Noble, Inc. (NYSE:BKS), the nation's largest bookseller, today reported fiscal 1999 earnings from bookstores of $1.62 per share, a 23 percent increase over the prior year. Bookstore operating profit increased 17.1 percent to $216.7 million, reflecting strong sales growth and expanding operating margins. The operating profit margin increased to 6.6 percent of sales, up from 6.2 percent in the prior year, reflecting better occupancy and a more favorable product mix. Total bookstore sales for the year increased 8.5 percent to $3.3 billion. Barnes & Noble "super" store sales for the 52-week period rose 12.2 percent to $2.8 billion from $2.5 billion in the prior year. Barnes & Noble comparable "super" store sales increased 6.1 percent for fiscal 1999, reflecting an accelerating trend over 1998 levels despite higher sales from online book retailers. At the same time, Barnes & Noble.com reported a three-fold increase in sales in fiscal 1999. B. Dalton sales for the 52-week period decreased (9.1) percent to $426 million due to the closing of 89 stores during the year. Comparable store sales increased 0.1 percent for fiscal 1999 and increased 1.1 percent in the fourth quarter. On a full-year pro forma basis, Babbage's Etc. store sales increased 18.9 percent to $553.1 million, driven by a comparable store sales increase of 12.5 percent. Babbage's Etc. sales and earnings have been included in the results of Barnes & Noble, Inc. from October 28, 1999, the date of the acquisition, during which Babbage's Etc. contributed $7.3 million in net earnings or $0.10 per share. For the year, retail EBITDA rose 26.0 percent to $344 million or $4.82 per share. The company repurchased 4.0 million shares for a total cost of $87 million. "Based on our strong performance in 1999, we are confident that fiscal 2000 will be another great year," said Leonard Riggio, chairman and chief executive officer of Barnes & Noble, Inc. "Our stores are performing better than ever with strong comparable sales growth and improving margins; our cash flow is at record levels, and Barnes & Noble continues to gain market share." As previously announced, the company reported a net gain of $0.13 per share in fiscal 1999 from investment activities primarily related to Barnes & Noble.com, Chapters Inc., and NuvoMedia. As of January 29, 2000, the company operated 542 "super" stores and 400 B. Dalton stores. During 1999 Barnes & Noble opened 38 new "super" stores and closed 16 stores. Babbage's Etc. opened a net 24 video game and entertainment software stores in the fourth quarter to end the fiscal year with 526 stores. About Barnes & Noble, Inc. Barnes & Noble stores stock an authoritative selection of book titles and provide access to more than one million titles. They offer books from more than 50,000 publisher imprints with an emphasis on small, independent publishers and university presses. Barnes & Noble is one of the world's largest booksellers on the World Wide Web (http://www.bn.com), and the exclusive bookseller on America Online (Keyword: bn). The company also publishes books under its own imprint for exclusive sale through its retail stores and Web site. Barnes & Noble recently acquired Babbage's Etc., one of the nation's largest operators of video game and entertainment software stores. SAFE HARBOR This release may contain forward-looking statements regarding expectations of the company. These statements are based on currently available information and represent the beliefs of the management of the company. The future events which are the subject of such statements are subject to certain risks, including those set forth in the company's annual, quarterly and periodic reports on file with the Securities and Exchange Commission. # # # General financial information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's investor relations Web site: http//www.shareholder.com/bks/. Please see attached. ------------------------------------------------------ This service provided by Shareholder Direct. Additional Information: shareholder.com

To: Tom Kearney who wrote (96621)	3/16/2000 12:01:00 PM
From: Robert Rose	Read Replies (2) \| Respond to of 164684

<I would think the shorts would cover over a period of time such that the net effect would be slight.> Most shorts are excellent at playing ST swings. They have to be to survive and prosper in this LT bull market. So they all tend to cover at the same time when they sense an ST, IT or LT bottom (whatever they're playing it for, almost always ST). A good example of this type of short is Tom Hua. He and his cohort shorts tend to descend on the threads of highly volatile, overextended stocks and then upon covering, vanish just as quickly. Read the last few weeks of the scon thread for an example of this. I have a lot of respect for these guys. They're far more savvy re: the vagaries of the market than I. fwiw.