Barnes and Noble released their results for their third fiscal quarter on Wednesday. The company saw a 50.4% decrease in revenue and a 58.2% decrease in device sales over the previous year.

Device and accessories sales were $100 million for the quarter which was a decrease of 58.2% from the same quarter last year. This was attributed to lower unit volume selling, meaning less people purchased new Nook devices, therefore less accessories were sold. More alarming is the fact that digital content sales were $57 million which was a decline of 26.5%, over the same quarter a year ago. These digital content sales also include purchased made through Nook apps for smart devices outside the Nook family.

In the past Barnes and Noble has released new Nook devices between September and November giving them time to ramp up for the holiday shopping season. However, this year Barnes and Noble did not release a new device.

“We have taken steps to reduce costs and device exposure, while focusing our efforts to reverse the content sales decline,” Michael P. Huseby, CEO of Barnes and Noble said in a release. “We remain committed to delivering world-class reading experiences to our customers through our reading centric e-Ink and color reading devices. The Company is actively engaged in discussions with several world-class hardware partners related to device development as well as content packaging and distribution. As a result, we plan to launch a new NOOK color device in early fiscal 2015.”

Barnes and Noble’s fiscal year begins in April and with the comment about an early fiscal 2015 release we could be looking at a new Nook Color device this spring or summer.  However, TechCrunch and several other tech sites, and pundits are questioning whether they even need to bother.

Barnes and Noble has never been able to keep up with Amazon on the device front. Amazon has abandoned the e-reader, or even suped up e-reader product line in lieu of more advanced tablets in the Kindle Fire HDX series. Amazon has been steadily advertising their latest Kindle Fire devices, including a commercial that parodies Apple. Amazon also introduced a popular in-house financing option on the Kindle Fire tablets earlier this year.