BIRMINGHAM, Ala. (March 26, 2009) — Books-A-Million, Inc. (NASDAQ:BAMM) today announced that the Companyâ€™s Board of Directors has authorized a program to repurchase up to $5 million in shares of its common stock. This program replaces a previous program to repurchase up to $5 million of its common stock that began in March 2008 and was set to expire on April 30, 2009, pursuant to which the Company repurchased $1.8 million of its common stock. Stock may be purchased in the open market or through private transactions from time to time through April 30, 2010, dependent upon market conditions. The plan does not obligate the Company to repurchase any specific number of shares and may be suspended at any time at managementâ€™s discretion. The Company currently has 15.6 million shares of common stock outstanding.
Books-A-Million is one of the nationâ€™s leading book retailers and sells on the Internet at www.booksamillion.com. The Company presently operates 220 stores in 21 states and the District of Columbia. The Company operates under the trade names Books-A-Million, Books & Co. and Bookland. The common stock of Books-A-Million, Inc. is traded on the NASDAQ Global Select Market under the symbol BAMM.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. A number of factors could cause actual results, performance, achievements of the Company, or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the competitive environment in the book retail industry in general and in the Company’s specific market area; inflation; economic conditions in general and in the Company’s specific market areas; the number of store openings and closings; the profitability of certain product lines, capital expenditures and future liquidity; liability and other claims asserted against the Company; uncertainties related to the Internet and the Company’s Internet initiative. In addition, such forward-looking statements are necessarily dependent upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included herein do not purport to be predictions of future events or circumstances and may not be realized. Given these uncertainties, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligations to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.
Subscribe To Beneath The Cover's Blog
Join the many publishers and authors who already get their updates sent straight to their inbox. Enter your email address below: