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Barnes & Noble fiscal Q1 loss narrows YOY

Barnes & Noble Inc. said its normalized net income for the fiscal first quarter ended Aug. 2 was a loss of 41 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 68 cents per share.

The per-share loss decreased 45.7% year over year from 76 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $24.5 million, compared with a loss of $44.7 million in the first quarter ended July 27, 2013.

The normalized profit margin rose to 1.1% from negative 3.4% in the year-earlier period.

Total revenue decreased 7.0% on an annual basis to $1.24 billion from $1.33 billion, and total operating expenses declined 8.9% on an annual basis to $1.27 billion from $1.39 billion.

Reported net income came to a loss of $33.2 million, or a loss of 56 cents per share, compared to a loss of $91.7 million, or a loss of $1.56 per share, in the first quarter ended July 27, 2013.