Barnes & Noble Education Inc (NYSE: BNED) jumped after reporting Q4 results.
The Basking Ridge, New Jersey-based company, a leading provider of educational products and services solutions for higher education and Kindergarten to Grade 12, today reported sales and earnings for the fourth quarter and full year for fiscal-year 2018.
The numbers showed consolidated fourth-quarter sales of $357.7 million increased 4.3%, as compared to the prior year period. Consolidated fourth-quarter GAAP net income was $17.1 million, as compared to net income of $0.2 million in the prior year period.
Consolidated fourth-quarter non-GAAP Adjusted Earnings was $17.2 million, as compared to $4.5 million in the prior year period.
CEO Michael P. Huseby said: "We delivered very solid operating performance this year. We also began in earnest to transform the Company and develop scalable digital solutions that will help us better serve our institutional partners and students. We are confident that we are making the investments and taking the actions necessary for BNED to effectively compete and win in an evolving educational services market place.
"The creation of our new Digital Student Solutions, or DSS, reporting segment is an important step in further positioning BNED as a leader in high-value direct-to student offerings. We intend to use all channels—ongoing internal development, partnering and acquisitions—to grow DSS as rapidly as we can."
Shares in the company vaulted $1.46, or 21.6%, to $8.22 mid-morning Thursday. The 52-week trading range is from $4.99 to $11.12.
