Boston, MA 06/26/2013 (wallstreetpr) – The recently reported financial results for the fourth quarter of fiscal year 2013 had not been much encouraging for Barnes & Noble Inc. (NYSE:BKS). The decline in financial earnings had primarily been attributed to the drop in sales at the bookstores of the company and to the failure of the company’s Nook e-book devices to play effectively in the market competition.
The net loss for Barnes & Noble Inc. (NYSE:BKS) had more than doubled compared to the previous year losses. For the fourth quarter of fiscal year 2013 which had ended on April 30, the largest traditional bookseller of the United States had reported net losses of $118.6 million or $2.11 per share compared to the losses of $56.9 million or $1.06 per basic and diluted share for the previous year.
In line with such heavy losses, Barnes & Noble Inc. (NYSE:BKS) had announced that it might stop making its own Nook e-book devices which had contributed for the major portion of the losses.
The shares of Barnes & Noble Inc. (NYSE:BKS) had witnessed a decline in prices by around 17.06 percent for the last trading session on Tuesday and had thereby closed at $15.61 per share for the day. The shares of the company had been trading during the day with intraday prices moving in the range of $14.96 per share to $17.70 per share during the day, after opening at $16.97 per share. The shares of Barnes & Noble Inc. (NYSE:BKS) had recorded 52 week high price level at $23.71 per share and 52 week low price level at $11.17 per share.
Barnes & Noble Inc. (NYSE:BKS) presently has an average trading volume at 1.46 million shares per day. The company operates with an institutional ownership holding at 61 percent of its capital with around 60.09 million shares outstanding in the market.
