Posted: Jun 28, 2010 7:56 PM by Chris Welty
Updated: Jun 28, 2010 7:57 PM
NEW YORK (AP) - Barnes & Noble says its fiscal fourth-quarter
loss widened as it invests in electronic book technology. It also
forecast first-quarter earnings below expectations.
The largest U.S. traditional bookseller says it lost $32
million, or 58 cents per share. That compares with a loss of $2.7
million, or 5 cents per share, last year.
The loss totaled 89 cents per share excluding one-time items.
Analysts predicted a loss of 81 cents per share.
Revenue rose 19 percent to $1.32 billion.
Barnes & Noble is focusing on e-books and its e-book reader Nook
to counter increased online competition and discounters.
The company expects a first-quarter loss between 85 cents and
$1.15 per share. Analysts expect a loss of 44 cents per share.