Blue Nile Earnings: Record First Quarter Sales

Blue Nile, Inc. (NASDAQ:NILE) reported its results for the first quarter. Blue Nile Inc. is an online retailer of high quality diamonds and fine jewelry in the United States.

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Blue Nile Earnings Cheat Sheet for the First Quarter

Results: Net income for the catalog and mail order house rose to $2.4 million (16 cents/share) vs. $2.4 million (16 cents/share) in the same quarter a year earlier. A rise of 1.4% from the year earlier quarter.

Revenue: Rose 8.3% to $80.2 million YoY.

Actual vs. Wall St. Expectations: NILE fell in line with the mean analyst estimate of 16 cents/share. Estimates ranged from 14 cents per share to 18 cents per share.

Quoting Management: “We delivered record first quarter sales reflecting the strength of our consumer proposition and our relentless focus on perfecting the customer experience. We remain focused on our key objective of building our business in the U.S. and internationally by investing in growth initiatives from product innovation and marketing to continued enhancement across the Blue Nile experience,” said Diane Irvine, Chief Executive Officer.

Key Stats:

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 13.6% and in the third quarter of the last fiscal year, the figure rose 7.7%.

From the fourth quarter of the last fiscal year, the company’s current liabilities fell to $63.7 million from $101.9 million.

Over the last five quarters, revenue has increased 9.8% on average year over year. The biggest increase came in the first quarter of the last fiscal year, when revenue rose 18.7% from the year earlier quarter.

Competitors to Watch: Zale Corporation (NYSE:ZLC), DGSE Companies, Inc. (AMEX:DGSE), Tiffany & Co. (NYSE:TIF), Birks & Mayors Inc. (AMEX:BMJ), Signet Jewelers Ltd. (NYSE:SIG), Whitehall Jewelers Hldgs. Inc. (WHJHQ), Elegant Illusions, Inc. (EILL), Finlay Enterprises, Inc. (FNLYQ), and USN Corporation (USNR)

Stock Performance: Shares of NILE are down 0.5% from the previous closing price of $58.09.

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