Blue Nile Q1 Profit Rises, Matches View

(RTTNews) - Blue Nile Inc. (NILE) said Thursday that its net income for the first quarter rose to $1.1 million or $0.08 per share from $0.83 million or $0.07 per share a year ago. On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the first quarter grew nearly 7 percent to $103.7 million from $97.1 million last year. Analysts expected sales of $105.44 million.

For the second quarter, the company anticipates that earnings per share will be in the range of $0.18 - $0.21, on net sales of $108 million - $113 million. Analysts currently expect the company to earn $0.20 per share, on revenues of $117.44 million, for the next quarter.

Looking ahead to the fiscal year, Blue Nile expects earnings per share of $0.85 - $0.90, on net sales of $485 million - $510 million. The Street expects earnings per share of $0.89, on revenues of $500.13 million, for the year.