Barnes & Noble Net Income Falls

Published February 21, 2012 2:09PM (EST)

NEW YORK (AP) — Barnes & Noble says its fiscal third-quarter net income fell as both physical and digital books rose, and the company continues to invest it its Nook e-book readers.

The largest traditional U.S. bookstore is also introducing a Nook Tablet device with 8 gigabytes of memory for $199. Its current 16GB device sells for $249.

Revenue from its Nook e-readers and digital catalog rose 38 percent to $542 million.

Net income for the 13 weeks ended Jan. 28 fell to $52 million, or 71 cents per share. That compares to a loss of $60.6 million or $1 per share last year. Analysts expected 94 cents per share.

Revenue rose 5 percent to $2.44 billion. Analysts expected revenue of $2.53 billion. Revenue in stores open at least one year rose 2.8 percent.

By Salon Staff

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