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Thursday, November 5, 2009 |
Blue Nile turns in a better financial performance in Q3
Online jeweler Blue Nile Inc. reported some improved financial results for the third quarter.
For the quarter ended Oct. 4, Blue Nile, No. 56 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 2.3% to $66.9 million from $65.4 million.
- Net income was $2.6 million compared with $2.3 million in the prior year
- International sales increased 27.5% to $8.8 million from $6.9 million.
“Our third quarter results were excellent and reflect continued positive momentum in the business,” says CEO Diane Irvine. “We returned to top-line growth and delivered strong profitability.”
For the first three quarters, Blue Nile reported:
- Sales decreased 5% to $199.1 million from $209.5 million.
- Net income decreased to $7.4 million from $8.1 million.
Blue Nile is also once more providing guidance on its future business performance. The company expects sales in the fourth quarter to range from $100 million to $109 million. “The trends in the business during the third quarter improved sequentially, and we project that trend to continue in the fourth quarter,” says Blue Nile chief financial officer Marc Stolzman.
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