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Borders Finishes With A More Profitable Quarter, Even As Sales Fall Over 13%

March 31, 2010
By Michael Cader

With new financing in place, Borders also reported fourth quarter and full-year earnings. The company made $59.9 million (91 cents a share) from continuing operations in the final quarter, much improved from $28.9 million (48 cents a share) a year ago, though adjusted EBITDA fell from $132.6 million to $91.3 million. Their debt net of cash at the end of the quarter was $245 million, a $37.6 million reduction from a year ago. Comp-store sales were about as horrible as their holiday report indicated, down 14 percent in the Borders superstores, also declining 14.4 percent for the full year. Fourth […]

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Filed Under: Booksellers, Earnings Reports, Finance

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