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Barnes & Noble fiscal Q4 loss widens 32.2% YOY

Barnes & Noble Inc. said its normalized net income for the fiscal fourth quarter ended May 2 was a loss of 22 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 40 cents per share.

The per-share loss grew 23.7% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $13.9 million, compared with a loss of $10.5 million in the year-earlier period.

The normalized profit margin fell to negative 1.6% from negative 0.8% in the year-earlier period.

Total revenue decreased 10.4% year over year to $1.18 billion from $1.32 billion, and total operating expenses fell 9.7% on an annual basis to $1.20 billion from $1.33 billion.

Reported net income totaled a loss of $22.2 million, or a loss of 35 cents per share, compared to a loss of $42.5 million, or a loss of 73 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $1.13 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 28 cents.

EPS was a loss of 36 cents in the prior year.

Normalized net income was $68.8 million, compared with a loss of $21.1 million in the prior year.

Full-year total revenue increased 31.0% on an annual basis to $6.07 billion from $4.63 billion, and total operating expenses increased 28.1% on an annual basis to $5.94 billion from $4.64 billion.

The company said reported net income totaled $12.8 million, or 21 cents per share, in the full year, compared with a loss of $98.5 million, or a loss of $1.67 per share, the prior year.