Barnes & Noble.com brags that they cut their losses to 20 million - Huh??

NEW YORK Reuters reported that Barnes & Noble.com Inc. an online retailer of books, music, DVD/video and magazines, on Thursday reported a narrower-than-expected net loss of 13 cents a share in the first quarter.

Analysts on average had expected the company to report a loss of 16 cents a share for the quarter, according to Thomson Financial/First Call.

The company's net loss narrowed 48 percent to $20.5 million, or 13 cents per share, from a net loss of $39.8 million, or 25 cents per share a year earlier.

The earnings before interest, taxes, depreciation and amortization (EBITDA) loss was $12.6 million, a 54 percent improvement from its year ago EBITDA loss of $27 million.

Sales rose to $106.5 million from $105.5 million a year ago. The 2002 results reflected a free shipping promotion not in effect a year ago, while the year-ago quarter included $3.5 million of sales from Fatbrain retail stores which were closed in the fourth quarter of 2001.

The company expects net sales to range between $80 million and $85 million resulting in a net loss per share of 14 cents to 16 cents. For the full year, the company expects net sales to be in the range of $400 million to $450 million, with a net loss per share of 52 cents to 55 cents.