Barnes and Noble 2003 Annual Report Download - page 52

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Since 1993, the Company has used AEC One Stop
Group, Inc. (AEC) as its primary music and DVD/video
supplier and to provide a music and video database.
AEC is one of the largest wholesale distributors of
music and DVD/videos in the United States. In 1999,
AEC’s parent corporation was acquired by an investor
group in which Leonard Riggio was a minority investor.
The Company paid AEC $246,470, $246,409 and
$169,879 for merchandise purchased during fiscal
2003, 2002 and 2001, respectively. In addition, the
Company paid AEC $3,721, $7,736 and $2,554 for
database equipment and services during fiscal 2003,
2002 and 2001, respectively. The Company believes the
costs charged by AEC are comparable to other
suppliers. Amounts payable to AEC for merchandise
purchased were $20,897 and $21,967 as of January 31,
2004 and February 1, 2003, respectively.
[NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS continued ]
51
2003 Annual Report Barnes & Noble, Inc.
22. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
A summary of quarterly financial information for each of the last two fiscal years is as follows:
Fiscal 2003 Quarter End April July October January Total Fiscal
On or About 2003 2003 2003 2004 Year 2003
Sales $ 1,185,605 1,283,243 1,270,072 2,212,095 5,951,015
Gross profit $ 300,645 336,973 348,249 641,381 1,627,248
Equity in net loss of Barnes & Noble.com (a) $ ( 4,972 ) ( 5,404 ) ( 3,935) -- (14,311 )
Net earnings (loss) $ ( 2,026 ) 13,663 10,173 130,043 151,853
Earnings (loss) per common share
Basic $ ( 0.03 ) 0.21 0.15 1.92 2.30
Diluted $ ( 0.03 ) 0.20 0.14 1.65 2.07
Fiscal 2002 Quarter End April July October January Total Fiscal
On or About 2002 2002 2002 2003 Year 2002
Sales $ 1,133,126 1,159,214 1,130,885 1,846,110 5,269,335
Gross profit $ 283,633 302,055 293,917 533,888 1,413,493
Equity in net loss of Barnes & Noble.com (a) $(7,435 ) ( 7,469 ) ( 6,323 ) ( 5,568 ) ( 26,795 )
Net earnings (loss) $ ( 16,321 ) 1,429 3,829 111,011 99,948
Earnings (loss) per common share
Basic $ ( 0.25 ) 0.02 0.06 1.72 1.51
Diluted $ ( 0.25 ) 0.02 0.05 1.49 1.39
(a) Based on varying ownership interests as more fully discussed in Note 8 of the Notes to Consolidated Financial Statements.