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B&N warns of Nook Media losses
14.02.13 | Lisa Campbell
Barnes & Noble has warned that it will report greater losses in its 2013 fiscal year for Nook Media in comparison to 2012 when it delivers its third quarter earnings on 28th February.
The company has postponed the reporting of its results from 22nd February and warned that “based on current forecasts, the company now expects its fiscal year 2013 Nook segment EBITDA loss to be greater than it was in fiscal 2012 and expects fiscal year 2013 Nook Media revenues to be less than $3 billion.”
Just over a month ago, when reporting lower than expected Nook sales, B&N had reduced sales expectations for Nook Media to "approximately $3 billion," so this announcement suggests its outlook has decreased since then.
Last year Nook's EBITDA loss was $262 million.