On Tuesday, print and digital book juggernaut Barnes & Noble reported sales and earnings for its fiscal 2013 first quarter, which ended July 28, 2012.
First quarter consolidated revenues spiked 2.5% to $1.5 billion as compared to the prior year.
First quarter consolidated earnings before interest, taxes, depreciation and amortization was $4 million as compared to a loss of $24 million a year ago.
“During the first quarter, we continued to see improvement in both our rapidly growing NOOK business, which saw digital content sales increase 46% during the quarter, and at our bookstores, which continue to benefit from market consolidation and strong sales of the Fifty Shades series,” said William Lynch, Chief Executive Officer of Barnes & Noble.
“The growth in comps at retail and the continued strong growth of our digital content business, as well as increased cost management focus, were drivers in the business turning from an EBITDA loss last year to slightly positive EBITDA in the first quarter of this yea,” he added.
As MMW reported Monday, Barnes and Noble is poised to expand its NOOK digital bookstore and devices beyond the U.S. market and to work with U.K. retailers to bring millions of U.K. customers the products and services B&N customers know and love at home.
