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Barnes & Noble Education fiscal Q3 profit falls YOY

Barnes & Noble Education Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to $9.0 million, a decline of 29.8% from $12.8 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.7% from 2.6% in the year-earlier period.

Total revenue climbed 8.0% on an annual basis to $521.6 million from $483.1 million, and total operating expenses rose 9.6% on an annual basis to $507.3 million from $462.6 million.

Reported net income came to $8.7 million, compared with $12.1 million in the year-earlier period.