Barnes & Noble Education, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended October 31, 2021
November 30, 2021 at 06:30 pm IST
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Barnes & Noble Education, Inc. reported earnings results for the second quarter and six months ended October 31, 2021. For the second quarter, the company reported sales was USD 49.65 million compared to USD 43.65 million a year ago. Revenue was USD 626.98 million compared to USD 595.49 million a year ago. Net income was USD 22.53 million compared to USD 7.52 million a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.15 a year ago.
For the six months, sales was USD 62.67 million compared to USD 54.46 million a year ago. Revenue was USD 867.77 million compared to USD 799.5 million a year ago. Net loss was USD 21.82 million compared to USD 39.14 million a year ago. Basic loss per share from continuing operations was USD 0.42 compared to USD 0.81 a year ago. Diluted loss per share from continuing operations was USD 0.42 compared to USD 0.81 a year ago.
Barnes & Noble Education, Inc. is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. The Company is also a textbook wholesaler, inventory management hardware and software provider, and a provider of digital education solutions. The Company's segments include Retail and Wholesale. The Retail Segment operates 1,366 college, university, and K-12 school bookstores, comprised of 774 physical bookstores and 592 virtual bookstores. The Wholesale Segment centrally sources, sells, and distributes new and used textbooks to approximately 3,000 physical bookstores, including its Retail segment's 774 physical bookstores and sources, and distributes new and used textbooks to its 592 virtual bookstores. Additionally, the Wholesale Segment sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to approximately 340 college bookstores.