October 27, 2004, 12:00 AM

BlueNile.com’s revenue grows 23% in third quarter

Third quarter sales at online jewelry retailer Blue Nile Inc. reached $33.9 million, up 23% from $27.5 million in the third quarter of 2003, the company reports. Net income in the third quarter was $1.7 million compared to $2.2 million in Q3 a year ago.

Third quarter sales at online jewelry retailer Blue Nile Inc. reached $33.9 million, up 23% from $27.5 million in the third quarter of 2003, the company reports. Net income in the third quarter was $1.7 million compared to $2.2 million in Q3 a year ago. Net earnings this year were subject to full income taxes; earnings in the comparable quarter last year were not, Blue Nile reports. Blue Nile sells at BlueNile.com.

Net sales in the first nine months were $104.7 million, up 32% from $79.3 million in the first nine months last year. Year-to-date net income reached $5.4 million compared to $6.1 million in the first nine months of last year. The company reports that this year’s year-to-date net income was subject to income tax, while the nine months ended Sept. 30, 2003, were not.

“The upcoming holiday season is expected to be our largest ever, with expanded diamond selection, new jewelry styles, exceptional customer service, and free shipping," said Mark Vadon, CEO.

Blue Nile, the 54th largest online retailer according to Internet Retailer’s Top 300 Guide to Online Retailers, expects Q4 sales to be between $58 million and $62 million and full-year sales to be between $162.5 million and $166.5 million.

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