BIRMINGHAM, AL/8/23/07–Books-A-Million, Inc. (NASDAQ:BAMM) yesterday announced financial results for the second quarter ended August 4, 2007. Net sales for the 13-week period increased 9.6% to $132.8 million from sales of $121.2 million in the year-earlier period. Comparable store sales for the quarter increased 6.6% when compared with the 13-week period for the prior year. Net income increased to $3.1 million, or $0.19 per diluted share, compared with net income of $2.5 million, or $0.15 per diluted share, in the year-earlier period.
For the 26-week period ended August 4, 2007, net sales increased 6.0% to $249.1 million from sales of $235.1 million in the year-earlier period. Comparable store sales increased 3.1% when compared with the same period of fiscal 2007. For the 26-week period, the Company reported net income of $5.2 million, or $0.31 per diluted share, compared with net income of $4.0 million, or $0.24 per diluted share, for the year-earlier period.
Commenting on the results, Sandra B. Cochran, President and Chief Executive Officer, said, "We are pleased with our results for the quarter. The publication of Harry Potter and The Deathly Hallows generated record-breaking sales. Our marketing efforts along with our Fast Lane checkout process helped us achieve strong market share. In addition, continued discipline in inventory management, expense control and operational execution led to an improvement in profitability in a very competitive sales environment."
The Company also announced that its Board of Directors has approved a quarterly cash dividend of $0.09 per share. The quarterly dividend is payable on September 19, 2007, to stockholders of record at the close of business on September 5, 2007.
Books-A-Million is one of the nation’s leading book retailers and sells on the Internet at www.booksamillion.com. The Company presently operates 206 stores in 20 states and the District of Columbia. The Company operates large superstores under the names Books-A-Million and Books & Co. and traditional bookstores operating under the name Bookland, Books-A-Million and Joe Muggs Newsstands. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Stock Market’s Global Select Market under the symbol BAMM.