-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Pi2/WQjAl9TOs4kuBwgfDnC9lC9g9dP78wvalwzL8XvLqVjMoAcbmVQaUT/tFCnC bWFDcesSly8R1lgaqxgf+Q== 0000891919-05-000095.txt : 20050816 0000891919-05-000095.hdr.sgml : 20050816 20050816161902 ACCESSION NUMBER: 0000891919-05-000095 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050730 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050816 DATE AS OF CHANGE: 20050816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOOKS A MILLION INC CENTRAL INDEX KEY: 0000891919 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 630798460 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20664 FILM NUMBER: 051030980 BUSINESS ADDRESS: STREET 1: 402 INDUSTRIAL LN CITY: BIRMINGHAM STATE: AL ZIP: 35211 BUSINESS PHONE: 2059423737 MAIL ADDRESS: STREET 1: 402 INDUSTRIAL LANE CITY: BIRMINGHAM STATE: AL ZIP: 35211 8-K 1 q28k.txt 8-K 2ND QUARTER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 16, 2005 --------------- Books-A-Million, Inc. ------------------------------------------------------------------------------ (Exact name of registrant as specified in its charter) DELAWARE 0-20664 63-0798460 - ------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 402 Industrial Lane, Birmingham, Alabama 35211 - --------------------------------------------- --------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (205) 942-3737 ----------------- N/A - ------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 1 - Registrant's Business and Operations Item 2.02 Results of Operations and Financial Condition. On August 16, 2005, Books-A-Million, Inc. issued a press release announcing its financial results for the second quarter ended July 30, 2005. A copy of the press release is attached hereto as Exhibit 99.1 The information in this Report, including the exhibit attached hereto, is furnished solely pursuant to Item 2.02 of this Form 8-K. Consequently, it is not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933 if such subsequent filing specifically references this Form 8-K. Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits. (c) Exhibits. The exhibit is furnished pursuant to Item 2.02 and shall not be deemed to be "filed." Exhibit No. Document Description 99.1 Press Release dated August 16, 2005 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. _____________BOOKS-A-MILLION, INC._______ --------------------- (Registrant) Date _August 16, 2005_____________________________ --------------- _________/s/ Richard S. Wallington_________ ------------------------- (Signature) Name: Richard S. Wallington Title: Chief Financial Officer EXHIBIT INDEX Exhibit No. Document Description 99.1 Press Release dated August 16, 2005 EX-99 2 pressreleaseq2.txt 2ND QUARTER PRESS RELEASE BOOKSo A o MILLION(R) News Release 402 Industrial Lane Birmingham, AL 35211 205-942-3737 Contact: Richard S. Wallington Chief Financial Officer (205) 942-3737 BOOKS-A-MILLION, INC. ANNOUNCES SECOND QUARTER RESULTS ---------------------------- Comparable Store Sales Increase 4.4% ---------------------------- Declares Regular Quarterly Dividend BIRMINGHAM, Ala. (August 16, 2005) - Books-A-Million, Inc. (Nasdaq/NM:BAMM) today announced financial results for the second quarter ended July 30, 2005. Net sales for the 13-week period increased 7.9% to $122.4 million from sales of $113.5 million in the year-earlier period. Comparable store sales for the quarter increased 4.4% when compared with the 13-week period for the prior year. Net income increased to $1.7 million, or $0.10 per diluted share, compared with net income of $1.0 million, or $0.06 per diluted share, in the year-earlier period. For the 26-week period ended July 30, 2005, net sales increased 6.3% to $235.4 million from sales of $221.4 million in the year-earlier period. Comparable store sales increased 4.0% when compared with the same period of fiscal 2005. For the 26-week period, the Company reported net income of $2.8 million, or $0.16 per diluted share, compared with net income of $2.2 million, or $0.13 per diluted share, for the year-earlier period. Commenting on the results, Sandra B. Cochran, President and Chief Executive Officer, said, "We are pleased with the results of the second quarter. The release of Harry Potter and the Half Blood Prince was a huge success. Our entire team worked exceptionally hard to prepare for the event, and the success of the book helped drive traffic to the stores. Our core book business remained solid as well with strong growth in children's, history, teen fiction, cooking, humor and inspirational books. "We are focused on the upcoming Holiday season, and we remain committed to achieving our goals of growing comparable store sales while improving inventory management and margins." The Company expects to report a net loss of $0.01 to $0.03 per diluted share for the third quarter of fiscal 2006 versus last year's third quarter net loss of $0.07 per diluted share. The projected results for the quarter include a gain from insurance recoveries estimated at $0.03 to $0.05 per diluted share. Projected net income for the year, including the one-time insurance gain, is $0.73 to $0.77 per diluted share versus last year's net income of $0.59 per diluted share. In addition, the Company announced that its Board of Directors has approved a $0.05 quarterly dividend per share. The quarterly dividend is payable on September 13, 2005, to stockholders of record at the close of business on August 30, 2005. The Company will pay quarterly cash dividends in the future subject to Board approval. Books-A-Million is one of the nation's leading book retailers and sells on the Internet at www.booksamillion.com. The Company presently operates 207 stores in 19 states and the District of Columbia. The Company operates three distinct store formats, including large superstores operating under the names Books-A-Million and Books & Co., traditional bookstores operating under the names Books-A-Million and Bookland, and Joe Muggs Newsstands. BAMM Reports Second Quarter Fiscal 2005 Results Page 2 August 16, 2005 BOOKS-A-MILLION, INC. Unaudited Consolidated Financial Highlights (In thousands, except per share data) 13 Weeks Ended 26 Weeks Ended -------------------------- -------------------------- July 30, July 31, July 30, July 31, 2005 2004 2005 2004 NET SALES $ 122,418 $ 113,494 $ 235,422 $ 221,407 Cost of sales (including warehouse, distribution and store occupancy costs) 88,327 82,474 169,669 160,199 ----------- ----------- ----------- ----------- GROSS PROFIT 34,091 31,020 65,753 61,208 Operating, selling and administrative expenses 26,810 24,622 52,406 47,692 Depreciation and amortization 4,088 4,313 8,026 8,936 ----------- ----------- ----------- ----------- OPERATING INCOME 3,193 2,085 5,321 4,580 Interest expense, net 415 487 799 1,005 ----------- ----------- ----------- ----------- INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 2,778 1,598 4,522 3,575 Income tax provision 1,069 571 1,732 1,323 ----------- ----------- ----------- ----------- INCOME FROM CONTINUING OPERATIONS 1,709 1,027 2,790 2,252 DISCONTINUED OPERATIONS: (Loss) income from discontinued operations (including loss on disposal) (13) (60) (47) (56) Income tax benefit (provision) 5 22 18 21 ----------- ----------- ----------- ----------- (LOSS) INCOME FROM DISCONTINUED OPERATIONS (8) (38) (29) (35) ----------- ----------- ----------- ----------- NET INCOME $ 1,701 $ 989 $ 2,761 $ 2,217 =========== =========== =========== =========== NET INCOME PER COMMON SHARE: Basic: Income from continuing operations $ 0.10 $ 0.06 $ 0.17 $ 0.13 Loss from discontinued operations -- -- -- -- ----------- ----------- ---------- ----------- Net income $ 0.10 $ 0.06 $ 0.17 $ 0.13 =========== =========== ========== =========== Diluted: Income from continuing operations $ 0.10 $ 0.06 $ 0.16 $ 0.13 Loss from discontinued operations -- -- -- -- ----------- ----------- ---------- ----------- Net income $ 0.10 $ 0.06 $ 0.16 $ 0.13 =========== =========== ========== =========== Weighted average shares outstanding: Basic 16,299 16,497 16,250 16,471 =========== =========== =========== =========== Diluted 16,884 17,225 16,862 17,220 =========== =========== =========== ===========
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. A number of factors could cause actual results, performance, achievements of the Company, or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the competitive environment in the book retail industry in general and in the Company's specific market area; inflation; economic conditions in general and in the Company's specific market areas; the number of store openings and closings; the profitability of certain product lines, capital expenditures and future liquidity; liability and other claims asserted against the Company; uncertainties related to the Internet and the Company's Internet initiative. In addition, such forward-looking statements are necessarily dependent upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included herein do not purport to be predictions of future events or circumstances and may not be realized. Given these uncertainties, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligations to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments. -----END PRIVACY-ENHANCED MESSAGE-----