Hastings Swings To Profit For Quarter
Hastings Entertainment Inc. reports net income for the three months ended July 31 of $188,000, or two cents per diluted share. This compares to net loss of $1.62 million, or 14 cents per share, in the same period last year.
Sales for the quarter increased 0.3% to $115.4
million. Comparable-store music sales fell 14.3%; the company cites overall industry declines and the effects of online and physical piracy. The decline in comp-store music sales was offset by gains in rental video and books.
Stock in Amarillo, Texas-based Hastings closed Friday up four cents at $3.52.
Sales for the quarter increased 0.3% to $115.4
Stock in Amarillo, Texas-based Hastings closed Friday up four cents at $3.52.
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