https://www.businesswire.com/news/home/20171205005366/en/Barnes-Noble-Education-Reports-Quarter-2018-Financial
Financial highlights for the second quarter 2018 and fiscal year to date 2018:
Consolidated sales of $886.9 million increased 15.1%, as compared to the prior year period; year to date consolidated sales of $1,242.6 million increased 23.0% as compared to the prior year period.
Consolidated second quarter GAAP net income of $48.4 million, as compared to $29.3 million in the prior year period; year to date GAAP net income of $13.6 million, as compared to $1.4 million in the prior year period.
Consolidated second quarter non-GAAP Adjusted EBITDA of $102.4 million, an increase of $32.0 million, as compared to the prior year period; year to date non-GAAP Adjusted EBITDA of $70.0 million, an increase of $36.1 million, as compared to the prior year period.
Consolidated second quarter non-GAAP Adjusted Earnings of $49.9 million, as compared to $29.7 million in the prior year period; year to date non-GAAP Adjusted Earnings of $20.1 million, as compared to $3.8 million in the prior year period.
Operational highlights for the second quarter 2018:
Expanded reach of BNED Courseware, offering Open Educational Resources (“OER”) content to approximately 13,000 students at community colleges, four-year public universities and four-year private universities.
Continued to recognize benefits from the MBS integration, as MBS contributed $134.9 million in sales and $19.2 million of Adjusted EBITDA in the second quarter of fiscal year 2018.
Completed the acquisition of Student Brands, LLC, a leading direct-to-student subscription-based writing services business, on August 3, 2017 for $57.4 million. Student Brands contributed $4.5 million in sales and $2.4 million of Adjusted EBITDA to BNC’s results in the second quarter of fiscal year 2018.
Renewed partnership with Target Corporation to promote its brand and college essentials to BNED customer base for the Fall of 2018.