For the second time in a little more than two years the Anderson family has made an offer to take Books-A-Million private. BAM announced late Thursday that it had received a proposal from Clyde Anderson, the company’s executive chairman, that his family wanted to buy all the outstanding shares in BAM for $2.75 per share.
For the four weeks ended Jan. 24, 2015, same store sales increased 4.8 percent over the prior-year period.
The U.S. economy may be chugging along, but U.S. magazine editors still think the big story is the economy, stupid. But two major newsweeklies -- Bloomberg Businessweek and Time — took different tacks with their cover stories, focusing on the inequity of the U.S. economic expansion and the disruption being created by the so-called “sharing economy,” respectively.
Huhtamaki has completed the acquisition of Positive Packaging, a flexible packaging company with nine manufacturing facilities in India and the United Arab Emirates as well as significant business in Africa and other export markets. With the acquisition Huhtamaki continued to implement its strategy of quality growth and significantly strengthens its position in the fast-growing emerging markets.
For the quarter ended December 31, 2014, the Company reported record revenue of $211.1 million, up 7% compared to fourth quarter 2013 revenue of $197.2 million. Non-GAAP net income was $25.1 million or $0.52 per diluted share, which included an unfavorable non-operational currency impact of $0.02 per share, compared to non-GAAP net income of $23.8 million or $0.49 per diluted share for the same period in 2013, which included a favorable non-operational currency impact of $0.01 per share. GAAP net income was $11.9 million or $0.25 per diluted share, compared to $75.2 million or $1.54 per diluted share for the same period in 2013.
Classroom materials will dramatically transition from paper to digital books in the next two years, educators predict, according to a survey from LightSail Education, a K–12 literacy platform that partners with Baker & Taylor. The January 28 report, polling 475 educators, predominantly school and district leaders, also revealed a strong preference for digital libraries over rental models.
Royal Dutch Shell Plc will cut $15 billion of investment over the next three years as the crash in oil prices saw fourth-quarter profit miss forecasts. Shell, the first of the world’s largest oil companies to report earnings following the slump in crude to a five-year low, will defer or cancel about 40 projects worldwide, Chief Executive Officer Ben van Beurden said today. Exploration will also be curtailed.
Updated national average fuel prices and key currency exchange rates.
Operating cash flow increased 25% to $6.84 billion for the trailing twelve months, compared with $5.47 billion for the trailing twelve months ended December 31, 2013. Free cash flow decreased to $1.95 billion for the trailing twelve months, compared with $2.03 billion for the trailing twelve months ended December 31, 2013.
Consolidated sales for the three-month period ended December 27, 2014, were $332 million, as compared to $354 million in the same quarter a year ago. The Company generated a net loss of $62 million or $0.62 per share in the December 2014 quarter compared to net earnings of $2 million or $0.02 per share in the December 2013 quarter. The current quarter results include a non-recurring debt refinancing charge of $37 million and a non-cash loss of $17 million related to the translation of US dollar denominated debt. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $20 million for the three-month period ended December 27, 2014, as compared to adjusted EBITDA of $13 million a year ago and adjusted EBITDA of $29 million in the prior quarter.