BKS
#That is what we have to date.
And basically, that we feel very comfortable with our projection for the year and we see it consistent with previous.
That is <UNK> <UNK>, who is our CEO of College.
And the first question was answered by <UNK> <UNK>, our CFO.
Thanks, <UNK>.
Well, a couple of questions that you are asking ---+ this is Mike.
On the relationship with Samsung, it is excellent.
As you know, <UNK>, tablet sales in general, for all companies that sell tablets, and particularly those that are focused on reading, have dropped fairly dramatically in the last year.
Samsung has been a great partner for us to work with in forecasting demand and trying to respond to the change in the shifting market demand between tablets, phablets, et cetera.
So we continue to work with them to look at other ways to meet demand in those areas where we think consumers really will move to, and find attractive, ur software for reading, the NOOK reading experience, which we continue to improve.
So the Samsung ---+ to answer your first question, the Samsung relationship is excellent.
They have been great partners.
The decline in NOOK losses, as you mentioned, we have done a pretty good job of holding the margin, even with the decline in content sales.
And as you point out, the NOOK margin is improved, and I think Al said this, because of the mix away from devices and more towards content.
The losses, as we pointed out ---+ we didn't get into a lot of detail.
But combining the NOOK digital operation with the retail group allows for a more common platform for both management.
So people ---+ which relates to, also, how do we better integrate the marketing, go-to-market efforts of NOOK physical ---+ NOOK digital, rather, and the physical book market, and also on our BN.com e-commerce efforts.
And also, the technology platforms.
The technology platforms for NOOK and retail, in terms of the ERP, are different.
There is an opportunity to consolidate not just technology platforms, but processes, and that means reduction of cost, as well ---+ not just personnel, but in terms of maintenance, hardware/software maintenance, those types of things.
So nobody is giving up ---+ just the opposite ---+ on trying to improve the content picture, in terms of digital content.
There is good ideas that both the retail and NOOK management have as to how we can better work together to push digital content, and eventually stabilize that revenue picture, or content, from the digital sources.
But there is substantial opportunities, still, to reduce losses ---+ the net loss, I should say, and costs at NOOK.
But it is not going to happen in a week.
It is going to take some time, because of the nature of the items that we are working on.
If you look at how fast the losses have dropped, I mean, in 2013, the loss approached $500 million, and last year, it was $218 million, and now it is $86 million.
So I really have to commend our NOOK management, and others at Barnes & Noble who have been associated with that effort.
It has been very focused and they have done a great job.
No.
There is ---+ it will be depreciated, based on the investment we've made so far, once it goes live.
But other than that, there is no launch expenses with it.
Thank you.
Absolutely not.
One thing I will say about that is, we do have a search, and we're very pleased with the results of that search.
We think it will be successfully completed in the near-term.
Were it not to be, for some reason, that would not hold up the spin.
The retail management team is very strong, and that is not going to be a factor in the timing of the spin.
Thanks, <UNK>.
Great.
Thank you for joining us on today's call.
Please note that our next scheduled call and financial release, will be our first-quarter earnings call, on or about September 9, 2015.
Have a good day.
