Books-A-Million, Inc. (NASDAQ:BAMM)
today announced
that the Company’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
management’s discretion. The Company currently has 15.6 million shares
of common stock outstanding.
Books-A-Million is one of the nation’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.
