Books-A-Million boosts quarterly income

BIRMINGHAM, Ala. Books-A-Million announced that net sales for the fourth quarter ended Jan.30 decreased 4.6% to $157.2 million from net sales of $164.7 million in the year-earlier period. Comparable-store sales for the fourth quarter decreased 6%. Net income for the quarter increased to $11.9 million, or 76 cents per diluted share, compared with net income of $11.2 million, or 71 cents per diluted share, for the prior fiscal quarter.

For the 52-week fiscal period net sales decreased 1.3% to $508.7 million, from net sales of $515.4 million in the prior fiscal year. Comparable-store sales decreased 3.8%. For the fiscal year ended January 30, the company reported net income of $13.8 million, or 88 cents per diluted share, compared with net income of $10.6 million, or 68 cents per diluted share, for the prior fiscal year.

Commenting on the results, Clyde Anderson, chairman, president and CEO, said, “Despite the challenging sales environment throughout the past year, we are pleased with our ability to grow earnings for the quarter and the year. We remain focused on maintaining fiscal discipline as we look forward to an improving economic climate in the year ahead.”