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59
2000 Annual Report ■Barnes & Noble, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
19. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
A summary of quarterly financial information for each of the last two fiscal years is as follows:
Total
Fiscal
Fiscal 2000 Quarter End April July October January Year
On or About 2000 2000 2000 2001 2000 (a)
Sales $ 894,256 924,330 951,834 1,605,384 4,375,804
Gross profit $ 240,089 248,067 258,871 459,053 1,206,080
Equity in net loss of Barnes & Noble.com (b) $ (17,598 ) (17,940 ) ( 18,901 ) ( 49,497 ) ( 103,936 )
Net loss (c) $ ( 4,144 ) ( 8,646 ) ( 5,177 ) (33,999 ) ( 51,966 )
Loss per common share $ (0.06 ) (0.13 ) (0.08 ) (0.52 ) ( 0.81 )
Total
Fiscal
Fiscal 1999 Quarter End April July October January Year
On or About 1999 1999 1999 2000 1999
Sales $ 718,336 727,165 715,903 1,324,639 3,486,043
Gross profit $ 192,371 199,275 200,490 410,178 1,002,314
Equity in net loss of Barnes & Noble.com (b) $ ( 11,544 ) ( 6,532 ) ( 8,736 ) (15,235 ) ( 42,047 )
Earnings (loss) before cumulative effect
of a change in accounting principle $ (1,444 ) 23,543 3,387 103,512 128,998
Net earnings (loss) (d) (e) $ (5,944 ) 23,543 3,387 103,512 124,498
Basic earnings (loss) per common share
Earnings (loss) before cumulative effect of a change
in accounting principle $ (0.02 ) 0.34 0.05 1.52 1.87
Net earnings (loss) $ (0.09 ) 0.34 0.05 1.52 1.80
Diluted earnings (loss) per common share
Earnings (loss) before cumulative effect of a change
in accounting principle $ (0.02 ) 0.33 0.05 1.48 1.81
Net earnings (loss) $ (0.09 ) 0.33 0.05 1.48 1.75
(a) As a result of the Company’s additional investment
in Calendar Club in fiscal 2000, the consolidated
statement of operations includes the operations of
Calendar Club. Prior to fiscal 2000, the Company’s
consolidated statement of operations included its
equity in the results of operations of Calendar Club
as a component of other income (expense).
(b) Based on varying ownership interests as more fully
discussed in Note 7 of the Notes to Consolidated
Financial Statements.
(c) In the fourth quarter of fiscal 2000, the Company
recorded a non-cash charge of $106,833 ($92,440
after taxes or $1.44 per share) to operating earnings
as more fully discussed in Note 14 of the Notes to
Consolidated Financial Statements.
(d) Included in net earnings for the second quarter of
fiscal 1999 is a pre-tax gain of $25,000 ($14,750 after
taxes) or $0.21 per diluted share from the receipt of
$25,000 from Bertelsmann as a result of the Barnes
& Noble.com Inc. IPO, as well as a pre-tax gain of
$10,975 ($6,475 after taxes) or $0.09 per diluted share
resulting from the partial sale of the Company’s
investment in Chapters.
(e) Included in net earnings for the fourth quarter of
fiscal 1999 is a pre-tax gain of $22,356 ($13,190 after
taxes) or $0.18 per diluted share in connection with
the sale of the Company’s investment in NuvoMedia.
In addition, the fourth quarter of fiscal 1999 includes
the results of the Company’s acquisition of
Babbage’s Etc.