(RTTNews) - Barnes & Noble Education, Inc. (BNED), an operator of college bookstores, announced a narrower net loss for the first quarter of fiscal 2027, helped by increased revenue.
For the three-month period to August 1, the company posted a net loss of $12.914 million, or $0.37 per share, compared with net loss of $18.271 million, or $0.54 per share in the same period last year. Excluding items, loss narrowed to $13.128 million from a loss of $15.784 million in the prior year.
Operating loss stood at $17.258 million as against a loss of $23.166 million a year ago. Total sales move up to $290.595 million from $288.160 million in the previous year. The increase in revenue was primarily due to the growth in BNC First Day programs. Revenue from BNC First Day programs was $124.7 million, up 9% from last year.
Looking ahead, for fiscal 2027, Barnes & Noble has reaffirmed its adjusted EBITDA outlook of $85 million to $92 million and anticipates further significant improvements in net income profitability. In addition, the company anticipates capital expenditures of around $20 million.
For fiscal 2026, Barnes&Noble had recorded adjusted EBITDA of $76.513 million.
BNED was down by 1.88% at $12.02 in the after-hours trading on the New York Stock Exchange.