On May 24, Barnes & Noble
- The strong performance in April's sales barely offset March's negative comps, leading to a modest 2.8% increase in sales.
- The company incurred after-tax costs totaling $6.8 million, or $0.07 per share, from the review of its stock option practices.
- Margins suffered declines, mainly because the company closed an Internet distribution center.
- Per the balance sheet, the company remains free of debt, displays solid inventory control, and is accumulating a fair amount of cash.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$1,145.4 |
$1,114.7 |
2.8% |
|
Net Profit |
($1.7) |
$10.0 |
N/A |
|
EPS |
($0.03) |
$0.14 |
N/A |
|
Diluted Shares |
65.2 |
70.1 |
(7.0%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
29.2% |
30.4% |
(1.2) |
|
Operating Margin |
(0.7%) |
1.2% |
(1.9) |
|
Net Margin |
(0.2%) |
0.9% |
(1.1) |
*Expressed in percentage points
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$120.7 |
$57.6 |
109.4% |
|
Accounts Rec. |
$103.2 |
$97.3 |
6.0% |
|
Inventory |
$1,378.2 |
$1,366.5 |
0.9% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$752.0 |
$768.6 |
(2.2%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
The cash flow statement is in the middle of a bestseller and didn't have time to be posted.
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