Nook HD

Nook HDInvestors were expecting a bad earnings report from Barnes & Noble on Tuesday morning, and they definitely got it: Barnes & Noble’s Nook business lost a lot of money, dragging down the entire company’s results. In response, Barnes & Noble said it will stop manufacturing Nook tablets in-house, though it will keep developing its e-ink readers. The company’s revenues were down 7.4 percent compared to this time last year, to $1.3 billion, in the fourth quarter of fiscal year 2013, with a net loss of $118.6 million, or $2.11 per share. For the full fiscal year, revenues were down 4.1 percent to $6.8 billion, with net losses of $154.8 million, or $2.97 per share, compared to $65.6 million the previous year. Shares were down 10 percent before the market opened. Nook lost a ton of money: Nook revenues were down 34 percent to $108 million for the quarter, compared to $168 million this time last year.

Read the full story at Paid Content.

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