10:17 AM EST - Indigo Books & Music Inc. : ,which is Canada's largest book retailer, reported that it has reduced its fourth-quarter loss to $4.2 million, from a year-earlier $7.4 million, as annual earnings rose 18.4 per cent to a record $30 million - without the aid of a new Harry Potter book. The Toronto-based company credited strong fourth-quarter revenue growth, improved operating margins and lower interest costs. "This is a significant achievement, considering the meaningful decrease in book prices and the absence of any strong hits during the important holiday season," CEO Heather Reisman said Tuesday in a release. "This year's results reflect the continued growth and development of our business and our brands." Revenue for the quarter ended March 31 rose 6.2 per cent to $201.9 million as comparable superstore sales increased 4.4 per cent, small-format store sales were up 8.5 and sales on the online site chapters.indigo.ca were up 18.5 per cent. For the full year, consolidated revenue increased $23.2 million to $875 million. Annual profit rose to $30 million or $1.19 a diluted share from $25.3 million or $1.02 per share a year ago. Indigo Books & Music Inc.
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