Indigo Grows in All Areas

Article Excerpt

INDIGO BOOKS & MUSIC INC. $15.05 (Toronto symbol IDG; SI Rating: Speculative) (416-646-8965;; Shares outstanding: 24.4 million; Market cap: $367.2 million) reported higher earnings in its fiscal third quarter ended December 31, 2006. Earnings rose 3.1%, to $41 million or $1.68 a share, from $39.8 million or $1.65 a share. Without one-time items, earnings would have risen 7.2%. The third quarter includes Christmas and it’s the busiest period for the company. Indigo typically loses money in the other three quarters. Revenues rose 3.4%, to $320.5 million from $309.9 million. The company had sales growth in all areas, including superstores, small-format stores and its on-line retail operations. Indigo is still a buy. buy…

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