Books-A-Million fiscal 1st quarter profit dips as revenue declines

Books-A-Million fiscal 1Q profit dips

BIRMINGHAM, Ala. — Chain book store Books-A-Million Inc. said Thursday that its fiscal first-quarter net income fell 2.6 percent as sales dipped.

For the quarter that ended May 1, Books-A-Million earned $2 million, or 13 cents per share, compared with $2.1 million, or 13 cents per share, in the year-ago quarter. The company used a slightly lower number of shares to calculate its per-share earnings in the most recent quarter.

Revenue dipped 1 percent to $117 million, while same-store sales — or sales at stores that have been open for at least a year — fell 3.6 percent year over year.

Also Thursday, Books-A-Million announced a quarterly dividend of 5 cents per share. The dividend is payable June 17 to shareholders of record as of June 3.