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Books-A-Million, Inc. (BAMM) Management Discusses Second Quarter Financial Results

Books-A-Million, Inc. (NASDAQ: BAMM), one of the nation’s leading book retailers selling on the Internet at, recently announced its financial results from the fiscal second quarter ending August 2, 2008. The company reported that net sales declined 7.5 percent to $122.8 million, down from $132.8 million in the year-earlier period.

In addition, net income for the second quarter decreased to $645,000, or $0.04 per diluted share, compared with net income of $3.1 million, or $0.19 per diluted share, during the same time period one year earlier. Books-A-Million’s management team believes that the decrease in net sales and comparable store sales was primarily due to the great success of Harry Potter and the Deathly Hallows in the prior year period.

Also citing challenging economic conditions, the management team believes sales growth will remain a challenge in the third quarter; however, the team remains focused on the fundamentals of its business that include cost control, inventory management and offering value to customers. Earlier this month, the board of directors approved a quarterly cash dividend of $0.09 per share, which will be paid on September 18, 2008, to stockholders of record at the close of business on September 4, 2008.

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