Hastings Entertainment Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2009. The company reported net loss was approximately $3.4 million, or $0.36 per diluted share, for the third quarter of fiscal 2009 compared to net loss of approximately $3.7 million, or $0.36 per diluted share, for the third quarter of fiscal 2008. Total revenues decreased approximately $1.9 million, or 1.7%, to $112.3 million compared to $114.3 million for the third quarter of fiscal 2008. Operating loss was $4.92 million compared to $5.1 million for the prior year quarter. Loss before income taxes was $1.485 million compared to $1.475 million for the prior year quarter. The company reported net loss was approximately $2.1 million, or $0.22 per diluted share, for the nine months ended October 31, 2009, compared to net loss of approximately $7,000, or $0.00 per diluted share, for the same period in the prior year. Total revenues decreased approximately $16.7 million, or 4.5%, to $355.2 million compared to $371.9 million for the same period in fiscal 2008. Operating loss was $2.69 million compared to operating income of $829,000 for the corresponding nine months in 2008. Loss before income taxes was $560,000 compared to income before income taxes of $836,000 for the corresponding nine months in 2008. Net cash provided by operations for the first nine months was $13.7 million compared to $7.7 million in the same period for the prior year. Purchases of property, equipment and improvements was $8.68 million compared to $20.56 million in the same period for the prior year.

Hastings Entertainment Inc. reported consolidated and unaudited earnings results for the second quarter ended July 31, 2009. For the quarter, the company's net loss was approximately $0.4 million, or $0.04 per diluted share compared to net income of approximately $0.7 million, or $0.06 per diluted share, for the second quarter of fiscal 2008. Total revenues for the second quarter decreased approximately $8.5 million, or 6.7%, to $117.2 million compared to $125.7 million for the second quarter of fiscal 2008. For the quarter, the company reported operating loss of $367,000 and loss before income taxes of $578,000 against operating income of $1.53 million and income before income taxes of $1.1 million for the same quarter last year. Net income was $1.3 million, or $0.13 per diluted share, for the six months ended July 31, 2009 compared to net income of $3.6 million, or $0.34 per diluted share, for the same period in the prior year. Total revenues for the six months ended July 31, 2009 decreased approximately $14.7 million, or 5.7%, to $242.9 million compared to $257.6 million for the same period in fiscal 2008. For the six months, the company reported operating income of $2.72 million and income before income taxes of $2.23 million against operating income of $6.85 million and income before income taxes of $5.96 million for the same period last year. Net cash provided by operating activities for six months period was $8.941 million, purchase of property, equipment and improvements was $5.6 million and book value per share was $10.52 against net cash provided by operating activities of $6.78 million, purchase of property, equipment and improvements of $10.3 million and book value per share of $9.74 for the same period last year. Additionally, cash flows from operations increased approximately $2.2 million over the comparable period last year and capital expenditures were $4.7 million less than the comparable period last year. The company is lowering its guidance of net earnings per share ranging from $0.40 to $0.45 to a range of $0.37 to $0.42 for the full fiscal year ended January 31, 2010.

Hastings Entertainment Inc. expected to Report Q3 2010 Results on November 16, 2009. This event was calculated by Capital IQ (Created on August 17, 2009).