Barnes and Noble reports a decline in revenue, Nook looks like a dead horse

Profits are improving, but this is entirely due to cost cuts. Sales of Nook devices and accessories are less than 1/4 than what they were a year ago. From the Press Release:

First quarter consolidated revenues decreased 7.0%, to $1.2 billion, as compared to the prior year. First quarter consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) improved to $30 million, as compared to an EBITDA loss of $9 million a year ago. First quarter results were positively impacted by approximately $13 million of favorable adjustments resulting from cost rationalization efforts discussed in the NOOK section below.  The consolidated first quarter net loss was $28.4 million, or $0.56 per share, compared to a net loss of $87.0 million, or a loss of $1.56 per share, in the prior year [...]. 

The NOOK segment (including digital content, devices and accessories) had revenues of $70 million for the quarter, decreasing 54.3% from a year ago. Device and accessories sales were $18 million for the quarter, a decrease of 78.6% from a year ago, due to lower unit selling volume. Digital content sales were $52 million for the quarter, a decline of 24.2% compared to a year ago, due primarily to lower device unit sales. 

NOOK EBITDA losses decreased $50 million, as compared to a year ago, to $5 million, primarily as a result of the cost rationalization efforts that were initiated last fiscal year.