Barnes and Noble 3Q results

Barnes and Noble has released financials for 3Q 2009, period ending 1/30/2010. Highlights include:

• $2.2 billion in total sales, a 33% increase compared to prior year.
• Store sales decreased 4.7% to $1.4 billion. Same store sales down 5.5%.
• College bookstore sales down 1.3%.
• Online sales increased 32% to $210 million. Sales accelerated greatly during the quarter, with January sales up 67% year-over-year.

While they don't break out nook eBook sales separately from print book sales online, the huge uptick probably is in no small part due to the nook's shipping.

nook(TM) began shipping only in the middle of the third quarter, and, as evident in our sales, we are thrilled with how customers have embraced our product and our digital eBook platform," said Steve Riggio, chief executive officer of Barnes & Noble, Inc. "In addition to the accelerating online sales trends, nook(TM) sales have been strong at our bookstores since the product became available earlier this month."

Barnes and Noble announced a $0.25 per share dividend, EBITDA of $204 million and consolidated net earnings of $80.2 million or $1.38 a share. Guidance had been between $1.20 and $1.40 a share.

As of this posting, shares of Barnes and Noble (BKS) were at $20.58 per share, down $0.93 per share (-4.23%) on the day.

DISCLAIMER:  I currently hold shares in Barnes and Noble.