Boston, MA 09/02/2014 (wallstreetpr) – According to reports, Books-A-Million, Inc. (NASDAQ:BAMM) has announced financial results for the previous quarter and half year ended on August 2, 2014. The fluctuation in the domestic and international market affected the results of the company as it witnessed a slight downturn in revenues.
Negative growth in revenues for 13 Week Period:
The 13-week period that ended on August 2, 2014 was not as good for Books-A-Million, Inc. (NASDAQ:BAMM) as the previous quarters. The revenue of the company decreased by 0.5% to $108.3 million during this period. In the 2Q 2013, it managed to earn $108.8 million in revenues. Although the compare store sales of the company increased 0.1% in the last quarter in comparison with the last year. The net loss of the company in the 2Q 2014 was $0.21 per diluted share or $3.0 million compared to $0.62 per diluted share or $9.1 million in the 2Q 2013.
Financial Performance of the company for 26-Week Period:
Books-A-Million, Inc. (NASDAQ:BAMM) managed to earn total revenue of $212.1 million over the last six months period ended on August 2, 2014. It was 0.1% less than the $212.4 million revenues that it earned in the year earlier period. Comparable sales of the company decreased by 1.2% during the last six months due to insufficient demand of company’s products. When it comes to net-loss, BAMM managed a figure of $0.59 per diluted share or $8.6 million in total in the last six months compared to $0.87 per diluted share or $12.8 million loss in the first half of last year.
Books-A-Million, Inc. (NASDAQ:BAMM)’s financial performance was not up to the mark as the revenue figure of the last quarter as well as six months decreased. The main reason behind this reduction was but the income tax expenses due to the reversal of previously recorded income tax benefits and the recording of a non-cash valuation allowance.
