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B&N raises forecasts
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January 20, 2000: 10:31 a.m. ET
Bookseller expects to exceed Wall St. estimates for 4Q and full fiscal year
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NEW YORK (CNNfn) - Barnes & Noble Inc., the largest U.S. bookseller, raised its earnings estimates Thursday for the fiscal year ending Jan. 29, citing better-than-expected sales at its brick-and-mortar stores and over the Internet.
New York-based Barnes & Noble (BKS) said it expects to post earnings of $1.38 per diluted share for the fiscal fourth quarter, up from its previous estimate of $1.33 per share. The company earned 94 cents a share in the year-earlier quarter.
These figures do not include an estimated loss of 12 cents per share associated with the company's investment in BarnesandNoble.com Inc. (BNBN), the online subsidiary spun off last year. Including those losses, earnings are expected to total $1.26 per share, compared with the First Call consensus estimate of $1.21 per share.
For the full fiscal year, the company now forecasts earnings per diluted share of $1.71, up from its previous estimates of $1.66 per share. Including losses of 36 cents per share associated with BarnesandNoble.com, full-year earnings would total $1.35 per share, compared with the First Call forecast of $1.32 per share. The company's prior year earnings were 76 cents a share.
The company also projected earnings will grow by 16 percent in 2000.
Barnes & Noble is scheduled to release its fourth-quarter and full year results on March 16.
Stock in the company gained 2 to 24-1/16 in morning trading Thursday. 
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Barnes & Noble
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