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Tech Industry

Barnesandnoble.com hits 1Q targets

    Barnesandnoble.com met analysts' estimates in its first quarter Monday, losing $27.1 million, or 19 cents a share, on sales of $78.2 million.

    Ahead of the earnings report, Barnesandnoble.com (Nasdaq: BNBN) shares finished unchanged at 10 15/16.

    The $78.2 million in sales marks a 142 percent improvement from the year-ago quarter when it lost $20.2 million, or 18 cents a share, on sales of $32.3 million.

    Including a variety of one-time charges, the online bookseller lost $44.2 million, or 30 cents a share.

    In the quarter, it added more than 850,000 customers, bringing its total to more than 5 million. Repeat customer orders accounted for 68.1 percent of sales, up from 56 percent in the year-ago quarter.

    Last quarter, Barnesandnoble.com met Street estimates, losing $38.4 million, or 27 cents a share, on sales of $82.1 million.

    Its shares moved as high as 26 5/8 last May before falling to a low of 7 1/2 in April.

    All six analysts following the stock rate it either a "buy" or "strong buy."