Online jeweler Blue Nile Inc. reported net sales of $72.1 million for the quarter ended July 1, up 28% from $56.9 million in the year-ago second quarter. Net income for the quarter was $3.8 million, compared with $3.1 million a year ago.
“Blue Nile’s second quarter performance was excellent in all areas of the business,” says CEO Mark Vadon. “We continued to show strong momentum in revenue growth and profitability and our results reflect our focus on providing an exceptional experience for our customers.”
For the first half, Blue Nile reported net sales of $140 million, compared with $107 million in the first half of 2006. Net income of $6.9 million was up from $5.5 million in last year’s first half.
The company, No. 52 in the Internet Retailer Top 500 Guide, noted that international sales through its Canada and United Kingdom web sites totaled $3 million in the second quarter. Blue Nile recently relaunched its web sites for those countries to support local customer service, sales in local currencies and more products. The company also recently opened an office in Dublin, Ireland, to provide customer service for UK customers and, ultimately, all of Europe as Blue Nile expands its international business.
For the full year, Blue Nile raised its earlier revenue projection of $295 million to $305 million to the range of $312 to $318 million, compared to $252 million in 2006.
Back...
