-----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, Gu41ywvoWoD05EYmMncFfFMpEQ1cZAQXSKmXEZO7MdykLdq3SkuLUlUhq/1ZFfTD 4xtkY+cyoBV3+JF6fA3XHQ== 0000891919-06-000097.txt : 20061117 0000891919-06-000097.hdr.sgml : 20061117 20061117160818 ACCESSION NUMBER: 0000891919-06-000097 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061017 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20061117 DATE AS OF CHANGE: 20061117 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: 061226897 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 q3pressrelease8k.htm THIRD QUARTER PRESS RELEASE 8K

 

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) November 17, 2006

 

 

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Section 2 – Financial Information

Item 2.02 Results of Operations and Financial Condition.

On November 17, 2006, Books-A-Million, Inc. issued a press release announcing its financial results for the third quarter ended October 28, 2006. 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 November 17, 2006

 

 

 

 

 

 

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 _November 17, 2006_____________________________

 

 

______________/s/ Douglas G. Markham__________

 

(Signature)

 

Name: Douglas G. Markham

 

Title: Chief Financial Officer

 

 

 

 

 

EXHIBIT INDEX

 

 

Exhibit No.

Document Description

99.1

Press Release dated November 17, 2006

 

 

 

 

 

 

 

 

 

 

 EX-99 2 pressrelease.htm THIRD QUARTER PRESS RELEASE

 

BOOKS•A•MILLION®

News Release

402 Industrial Lane

Birmingham, AL 35211

205-942-3737

 

Contact:

Douglas G. Markham

 

 

Chief Financial Officer

 

(205) 942-3737

 

 

 

BOOKS-A-MILLION, INC. ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

——————————————

Comparable Stores Sales Increase 2.3%

——————————————

Declares Regular Quarterly Dividend

 

BIRMINGHAM, Ala. (November 17, 2006) -- Books-A-Million, Inc. (NASDAQ:BAMM) today announced financial results for the third quarter and nine months ended October 28, 2006. Net sales for the 13-week period increased 3.2% to $110.7 million from sales of $107.3 million in the year-earlier period. Comparable store sales for the quarter increased 2.3% when compared with the 13-week period for the prior year. Net loss for the quarter was $201,000, or $0.01 per diluted share, compared with a net loss of $873,000, or $0.05 per diluted share, in the year-earlier period. The Company’s results for the third quarter included $86,000 in the current fiscal year and $770,000 in the prior year for gains, net of taxes, from insurance recoveries for stores that were permanently damaged by hurricanes. These gains reduced the net loss for the third quarter by approximately $0.01 and $0.05 per fully diluted share, for this year and last year, respectively.

 

For the 39-week period ended October 28, 2006, net sales increased 1.1% to $345.6 million from sales of $342.0 million in the year-earlier period. Comparable store sales increased 0.2% when compared with the same period of fiscal 2006. For the 39-week period, the Company reported net income of $3.8 million, or $0.22 per diluted share, compared with net income of $1.9 million, or $0.11 per diluted share, for the year-earlier period. The Company’s results for the 39 weeks included $101,000 in the current fiscal year and $770,000 in the prior year for gains, net of taxes, from insurance recoveries for stores that were permanently damaged by hurricanes. The gain in the prior year increased net income for the 39 weeks by approximately $0.04 per fully diluted share.

 

Commenting on the results, Sandra B. Cochran, President and Chief Executive Officer, said, “We are pleased with our results for the quarter. Despite the difficult comparable store sales comparison with last year and the distractions of the political season, we were able to deliver solid results. The fourth quarter best seller lineup is solid, and we are focused on executing our merchandising and marketing plans for the holiday season.”

 

The Company will pay a quarterly cash dividend of $0.08 per Common Share on December 15, 2006, to shareholders of record at the close of business on December 1, 2006.

 

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 208 stores in 20 states and the District of Columbia. The Company operates large superstores under the names Books-A-Million and Books & Co. and traditional bookstores operating under the name Bookland, Books-A-Million and Joe Muggs Newsstands. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Stock Market’s Global Select Market under the symbol BAMM.

 

-MORE-

 

BAMM Reports Third Quarter Results

Page 2

November 17, 2006

 

 

BOOKS-A-MILLION, INC.

Unaudited Consolidated Statements of Income

(In thousands, except per share data)

 

 

13 Weeks Ended

39 Weeks Ended

 

 

Oct. 28,

Oct. 29,

Oct. 28,

Oct. 29,

 

 

2006

2005

2006

2005

 

NET SALES

$

110,692

$

107,287

$

345,648

$

341,958

 

Cost of sales (including warehouse, distribution and

 

 

store occupancy costs)

81,604

79,215

249,014

248,313

 

GROSS PROFIT

29,088

28,072

96,634

93,645

 

 

Operating, selling and administrative expenses

26,154

26,445

79,990

78,681

 

 

Gain on insurance recoveries

(163)

(1,248)

(163)

(1,248)

 

 

Depreciation and amortization

3,399

3,881

10,388

11,888

 

OPERATING INCOME (LOSS)

(302)

(1,006)

6,419

4,324

 

 

Interest expense, net

64

378

229

1,178

 

INCOME (LOSS) FROM CONTINUING OPERATIONS

 

BEFORE INCOME TAXES

(366)

(1,384)

6,190

3,146

 

Income tax provision (benefit)

(173)

(530)

2,367

1,204

INCOME (LOSS) FROM CONTINUING OPERATION

(193)

(854)

3,823

1,942

 

DISCONTINUED OPERATIONS:

 

Loss from discontinued operations (including loss

 

 

on disposal)

(12)

( 31)

(89)

(86)

 

Income tax benefit

4

12

34

32

 

LOSS FROM DISCONTINUED OPERATIONS

(8)

(19)

(55)

(54)

NET INCOME (LOSS)

$

(201)

$

(873)

$

3,768

$

1,888

 

 

NET INCOME (LOSS) PER COMMON SHARE:

Basic:

Income (loss) from continuing operations

$

(0.01)

$

(0.05)

$

0.23

$

0.12

Loss from discontinued operations

--

--

--

--

Net income (loss)

$

(0.01)

$

(0.05)

$

0.23

$

0.12

 

Diluted:

Income (loss) from continuing operations

$

(0.01)

$

(0.05)

$

0.23

$

0.11

Loss from discontinued operations

--

--

(0.01)

--

Net income (loss)

$

(0.01)

$

(0.05)

$

0.22

$

0.11

 

Weighted average shares outstanding:

Basic

16,588

16,487

16,594

16,329

Diluted

16,588

16,487

16,984

16,924

 

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-

 

 

 

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