Blue Nile Inc. (NASDAQ:NILE) reported its results for the third quarter. Net income for the catalog and mail order house fell to $1.9 million (13 cents per share) vs. $2.8 million (19 cents per share) a year earlier. This is a decline of 32.6% from the year earlier quarter. Revenue rose 11.2% to $75 million from the year earlier quarter. NILE fell short of the mean analyst estimate of 18 cents per share. It beat the average revenue estimate of $72.6 million.
Blue Nile’s (NASDAQ:NILE) shares recently traded at $32.82, down $15.99, or 32.76%. They have traded in a 52-week range of $30.32 to $64.45. Volume today was 3,216,467 shares versus a 3-month average volume of 259,903 shares. The company’s trailing P/E is 34.55, while trailing earnings are $0.95 per share. Get the most recent company news and stock data here >>
“Our record third quarter sales exceeded the high end of our guidance and was driven by solid growth in our engagement and non-engagement businesses. We also continue to experience exceptional growth in our international business, validating the value proposition we have for our consumers abroad. Overall, engagement sales growth at the high-end continues to perform very well, showcasing the depth of selection we have in the luxury category. Key to our strategy, we will continue to aggressively invest in our brand and business through marketing programs and additional merchandising assortments,” said Vijay Talwar, Chief Executive Officer.
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