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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (360724)	3/3/2008 8:09:26 PM
From: MythMan	Respond to of 436258

delete delete....

To: Real Man who wrote (360724)	3/3/2008 8:09:45 PM
From: Giordano Bruno	Respond to of 436258

Who needs books anyway? Barnes & Noble Forecasts Weak Earnings By KATHY SHWIFF March 3, 2008 7:25 p.m. Barnes & Noble Inc. warned that recessionary pressures will make 2008 an especially challenging year and said its earnings per share would be well below what analysts were expecting. The company, one of the world's largest booksellers, said post-holiday sales trends continued into the first quarter of 2008. Shares fell 4.7% in after-hours trading. "The bookselling environment remains very competitive," the New York-based company said in a press release. Barnes & Noble expects "slightly positive" same-store sales in 2008 because of the difficulty of matching record-setting sales last year of J.K. Rowling's "Harry Potter and the Deathly Hallows" and improved hardcover sales, notably Rhonda Byrne's "The Secret," the best-selling nonfiction book and DVD in the company's history. It predicted per-share earnings of $1.70 to $1.90, flat with the previous year on an operating basis. Analysts' mean estimate is for earnings of $2.13 a share for the full year ending in January 2009. Barnes & Noble also narrowed the range of its earnings guidance for the fiscal fourth quarter and full year ended Feb. 2 because of two non-operating benefits received in January. The benefits, comprising property insurance and litigation settlements, totaled $6.3 million after-tax, or 10 cents a share for the fourth quarter and 9 cents a share for the full year. The company now expects per-share fourth-quarter earnings of $1.76 to $1.82, or $1.66 to $1.72, excluding items. Its previous guidance was $1.57 to $1.76. For the full year, Barnes & Noble now expects earnings of $1.99 to $2.05, or $1.90 to $1.96 excluding items. It earlier predicted earnings of $1.81 to $1.99. Analysts' mean estimates were for fourth-quarter earnings of $1.71 a share and full-year earnings of $1.88 a share, according to a poll by Thomson Financial. In January, Barnes & Noble cut its guidance by 10 cents a share amid weak holiday music sales. The company expects to announce fourth-quarter and full-year results March 20. Barnes & Noble said sales increased 2.8% for the fourth quarter and 4.3% for the full year, excluding the impact of the extra week during fiscal 2006. Same-store sales fell 0.5% for the quarter and increased 1.8% for the year. The company repurchased 6.9 million shares in 2007 for $248.3 million, and about $200 million remains available in its share repurchase plan. The company also expects to continue its dividends. Barnes & Noble's shares were at $26.90, down $1.33, or 4.7%, in after-hours trading. Write to Kathy Shwiff at kathy.shwiff@dowjones.com