NEW YORK – Online bookseller Barnes & Noble.com said on Thursday that its fourth-quarter loss narrowed as it gained from book, music and video sales and cutbacks on operating expenses.
Barnes & Noble.com reported a loss before items for the quarter of $31.5 million, or 20 cents per share compared with a loss of $74.4 million, or 47 per share, a year earlier.
Including items, the company reported a loss of 81 cents per share compared with a loss of $1.00 per share a year earlier. Consolidated fourth-quarter sales were $115 million compared with $114 million a year earlier.
It sees a first-quarter loss between 14 cents to 16 cents per share with net sales $105 million to $115 million and expects a 2002 loss of 52 cents to 58 cents per share on revenues of $400 million to $450 million.
Barnes & Noble.com shares climbed 28 cents, or 12.96 percent, to close Thursday trading at $2.44 on the Nasdaq.