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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(MARK ONE)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- ------- EXCHANGE ACT OF 1934.
For the quarterly period ended: October 31, 1998
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- OR -
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- ------- EXCHANGE ACT OF 1934.
For the transaction period from__________to__________
COMMISSION FILE NUMBER 0-20664
BOOKS-A-MILLION, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 63-0798460
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
402 INDUSTRIAL LANE, BIRMINGHAM, ALABAMA 35211
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(Address of principal executive offices) (Zip Code)
(205) 942-3737
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(Registrant's phone number including area code)
NONE
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(Former name, former address and former fiscal year,
if changed since last period)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
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Indicate the number of shares outstanding of each of the issuer's common stock,
as of the latest practicable date: Shares of common stock, par value $.01 per
share, outstanding as of December 15, 1998 were 17,797,325 shares.
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BOOKS-A-MILLION, INC. & SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
Thirteen Weeks Ended Thirty-Nine Weeks Ended
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October 31, November 1, October 31, November 1,
1998 1997 1998 1997
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NET SALES $ 78,962 $ 71,613 $ 231,386 $ 211,717
Cost of products sold (including warehouse
distribution and store occupancy costs)(1) 60,242 54,133 174,258 158,010
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GROSS PROFIT 18,720 17,480 57,128 53,707
Operating, selling and administrative
expenses 16,378 13,779 46,965 40,961
Depreciation and amortization 3,368 3,049 9,703 8,464
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OPERATING INCOME (LOSS) (1,026) 652 460 4,282
Interest expense, net 1,328 1,136 3,626 3,320
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INCOME (LOSS) BEFORE INCOME TAXES (2,354) (484) (3,166) 962
Provision (benefit) for income taxes (895) (184) (1,203) 366
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NET INCOME (LOSS) $ (1,459) $ (300) $ (1,963) $ 596
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WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING - BASIC 17,404 17,428 17,428 17,425
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NET INCOME (LOSS) PER SHARE - BASIC(2) $ (0.08) $ (0.02) $ (0.11) $ 0.03
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WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING - DILUTED 17,404 17,428 17,428 17,426
========= ========= ========= =========
NET INCOME (LOSS) PER SHARE - DILUTED(2) $ (0.08) $ (0.02) $ (0.11) $ 0.03
========= ========= ========= =========
(1) Inventory purchases from related parties were $7,795, $10,288, $27,578 and
$26,087 respectively, for each of the periods presented above.
(2) Effective January 31, 1998, the Company adopted Statement of Financial
Accounting Standards No. 128, Earnings Per Share (EPS), for all periods
presented.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned duly authorized.
BOOKS-A-MILLION, INC.
Date: December 18, 1998
by:/s/ Clyde B. Anderson
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Clyde B. Anderson
President and
Chief Executive Officer
Date: December 18, 1998
by:/s/ Sandra B. Cochran
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Sandra B. Cochran
Executive Vice President,
Chief Financial Officer
and Secretary