Barnes & Noble has both announced the date when they would be releasing their third quarter earnings for fiscal year 2013 and also offered a warning for investors. According to details coming from the Barnes & Noble issued statement, the third quarter earnings results would arrive before the market opens on February 28. In addition to the earnings report, the company will also have an investor conference call that same day.
This is where things appear to be getting interesting for investors. Barnes & Noble has offered a warning telling how they expect the fiscal year 2013 NOOK segment EBITDA loss to be "greater than it was in fiscal 2012." Furthermore, they also mentioned how they expect fiscal year 2013 NOOK Media revenues to be "less than $3 billion."
Previous expectations suggested that the EBITDA loss would be around what they saw in the previous year and the NOOK Media revenues were expected to be $3 billion, as opposed to the now less than $3 billion. Otherwise, for those wondering where the NOOK Media side fits in, this is the portion that deals with the NOOK and college business. You likely remember, the one that Microsoft backed to the tune of $300 million in April of 2012.
Microsoft backings aside, it is details such as this, that when combined with reports of not-so-stellar holiday sales and plans of closing numerous retail stores over the next 10 years -- we do have to wonder just how well things are going for Barnes & Noble. That said, it looks like we are going to be getting somewhat of a look come February 28 when they announce their latest earnings report.
[via Barnes & Noble]