Barnes & Noble 1Q Loss Widens, Hurt By Settlement Charge

Barnes & Noble Inc.'s (BKS) fiscal first-quarter loss widened to $2.22 million, or 4 cents a share,from $1.67 million, or 3 cents, a year earlier, hurt in part by a pretax $8.3 million charge to settle a suit with the state of California related to Barnes & Noble.com.

Excluding items, the company posted earnings of 5 cents a share.

A Thomson Reuters survey of analysts, on average, projected earnings of 5 cents a share for the quarter. Analysts' estimates usually exclude items.

The New York bookseller said sales for the quarter ended May 3 increased to $ 1.16 billion from $1.15 billion, as same-store sales fell 1.5%.

Read Full Article from CNNMoney.com

- Posted: 2008-05-22 08:45:16

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