Books-A-Million, a book retailer, has reported a net loss of $1.6 million, or $0.10 per diluted share, for the third quarter ended October 31, 2009, compared with a net loss of $2.2 million, or $0.14 per diluted share, for the third quarter of 2009.
For the third quarter of 2010, net sales decreased 0.6% to $110.9 million from $111.52 million in the third quarter of 2009.
For the first nine months of 2010, net sales increased 0.2% to $351.5 million from $350.7 million in the year-earlier period. Net income was $1.92 million, or $0.12 per diluted share, compared with a net loss of $635,000, or $0.04 per diluted share, for the prior-year period.
Clyde Anderson, chairman, president and CEO, said: "Comparable store sales for the third quarter improved over the second quarter trend. We saw stabilization in our core book business and continued growth in the bargain book and gift departments. Our balance sheet remains strong, and we are focused on maintaining fiscal discipline while preparing for the holiday season."