Blue Nile Inc 10-K Annual Report Mon Mar 02 2015

-- Blue Nile, Inc. (Nasdaq: NILE), a leading online retailer of diamonds and fine jewelry, today reported financial results for its fourth quarter and fiscal year ended January 4, 2015, periods that included 14 weeks and 53 weeks, respectively, as fiscal 2014 contained an extra week.

Net sales increased 7.9% to $157.4 million for the fourth quarter ended January 4, 2015 compared to $146.0 million for the fourth quarter ended December 29, 2013. Operating income for the fourth quarter 2014 totaled $6.9 million, representing an operating margin of 4.4% of net sales compared to $7.2 million of operating income and 4.9% of operating margin for the fourth quarter of 2013. Net income for the fourth quarter 2014 totaled $4.8 million, or $0.41 per diluted share. Non-GAAP adjusted EBITDA for the fourth quarter 2014 totaled $8.8 million.

Blue Nile reported net sales of $473.5 million for the fiscal year ended January 4, 2015 compared to $450.0 million for the fiscal year ended December 29, 2013, an increase of 5.2%. Operating income for the fiscal year ended January 4, 2015 was $14.2 million compared to $14.3 million for the fiscal year ended December 29, 2013. Net income for the fiscal year ended January 4, 2015 was $9.7 million and earnings per diluted share totaled $0.80. Non-GAAP adjusted EBITDA for the fiscal year ended January 4, 2015 was $22.1 million.

Net cash provided by operating activities totaled $17.2 million for the fiscal year ended January 4, 2015 compared to $23.4 million for the fiscal year ended December 29, 2013. Non-GAAP free cash flow for the fiscal year ended January 4, 2015 was $13.4 million compared to $17.9 million for the fiscal year ended December 29, 2013.

“Our fourth quarter growth continues the positive momentum from Q3 in spite of what was a challenging quarter for many jewelry retailers,” said Harvey Kanter, Blue Nile Chairman, CEO and President. “While these results are below our expectations, the above-industry growth demonstrates that we made progress and gained share. We remain confident in the underlying strategy; more people are realizing that buying online - and at Blue Nile specifically - provides a superior selection and industry-leading quality at an unmatched price. It’s one of the reasons why that, despite a tough quarter for the industry, Blue Nile continued to grow.”

Highlights


•	Net sales for the additional week was estimated at $5.9 million, which contributed 4.1% of growth for the fourth quarter 2014 and 1.3% for the fiscal year ended January 4, 2015.

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U.S. engagement net sales for the fourth quarter 2014 increased 7.9% to $85.0 million, compared to $78.7 million for the fourth quarter of 2013. U.S. engagement net sales for the fiscal year ended January 4, 2015 increased 4.1% to $266.4 million, compared to $255.8 million for the fiscal year ended December 29, 2013. U.S. engagement net sales for the additional week was estimated at $2.9 million, which contributed 3.7% of growth for the fourth quarter 2014 and 1.1% for the fiscal year ended January 4, 2015.

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U.S. non-engagement net sales for the fourth quarter 2014 increased 6.3% to $48.8 million, compared to $45.9 million for the fourth quarter of 2013. U.S. non-engagement net sales for the fiscal year ended January 4, 2015 increased 4.2% to $126.0 million, compared to $121.0 million for the fiscal year ended December 29, 2013. U.S. non-engagement net sales for the additional week was estimated at $1.8 million, which contributed 3.9% of growth for the fourth quarter 2014 and 1.5% for the fiscal year ended January 4, 2015.

The following information was filed by Blue Nile Inc on Tuesday, February 10, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Blue Nile Inc provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Subsidiaries Of The Registrant

Exhibit 23.1: Consent Of Deloitte &Amp; Touche Llp

Exhibit 31.1: Certification Of Principal Chief Executive Officer Required Under Rule 13A-14(A

Exhibit 31.2: Certification Of Principal Financial Officer Required Under Rule 13A-14(A)

Exhibit 32.1: Certification Of Principal Chief Executive Officer Required Under Rule 13A-14(B)

Exhibit 32.2: Certification Of Principal Financial Officer Required Under Rule 13A-14(B)

CIK: 1091171
Form Type: 10-K Annual Report
Accession Number: 0001091171-15-000032
Submitted to the SEC: Mon Mar 02 2015 5:20:11 PM EST
Accepted by the SEC: Mon Mar 02 2015
Period: Sunday, January 4, 2015
Industry: Retail Jewelry Stores