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May 29 (Reuters) – Canada’s Indigo Books & Music Inc
reported higher quarterly earnings on Tuesday, helped
by the sale of its e-reader business, but continuing operations
reported a loss.
The company said revenue fell C$4 million to C$196 million,
hurt by lower physical book sales, but sales were helped
somewhat by growth in other segments, including gifts and toys.
For the quarter ended March 31, loss from continuing
operations was C$10.7 million, or 43 Canadian cents a share,
compared with C$11.7 million, or 31 Canadian cents a year
earlier.
The company said a C$165 million gain on the sale of Kobo
Inc boosted net earnings attributable to shareholders to C$131.5
million, compared with a loss of C$19.4 million last year.
