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Blue Nile Inc (NILE) SEC Filing 10-Q Quarterly report for the period ending Sunday, July 5, 2015

Blue Nile Inc

CIK: 1091171




Exhibit 99.1

Blue Nile Announces Second Quarter 2015 Financial Results

Second Quarter Net Sales Increased 6.7% to $113.7 million
Second Quarter Earnings Per Diluted Share Total $0.20
Year-To-Date, the Company Repurchased 380,000 Shares

SEATTLE, August 7, 2015 -- Blue Nile, Inc. (Nasdaq: NILE), a leading online retailer of diamonds and fine jewelry, today reported financial results for its second quarter ended July 5, 2015.
Net sales increased 6.7% to $113.7 million for the second quarter ended July 5, 2015 compared to $106.6 million for the second quarter ended June 29, 2014. Operating income for the quarter totaled $3.4 million, representing an operating margin of 3.0% of net sales, compared to $3.2 million in operating income and 3.0% operating margin for the second quarter 2014. Net income totaled $2.3 million, or $0.20 per diluted share versus $2.2 million, or $0.18 per diluted share for the second quarter 2014.
Non-GAAP adjusted EBITDA for the quarter totaled $5.7 million compared to $5.2 million for the second quarter 2014. For the trailing twelve month period ended July 5, 2015, net cash provided by operating activities totaled $16.2 million compared to $18.8 million for the trailing twelve month period ended June 29, 2014. For the trailing twelve month period ended July 5, 2015, non-GAAP free cash flow totaled $12.1 million, as compared to $13.9 million for the trailing twelve month period ended June 29, 2014.
“We made good progress on our key initiatives which delivered revenue growth and expanded profitability,” said Harvey Kanter, Blue Nile Chairman, CEO and President. “We remain committed to our strategy to further invest in marketing to drive greater awareness; to optimize analytics to refine pricing and grow our margins; and to leverage scale to source products in ways that provide exceptional quality and value to our customers. All of this drives to one goal: moving more consumers of diamonds and fine jewelry to purchase online.”
Highlights
U.S. engagement net sales for the second quarter 2015 increased 7.5% to $65.5 million, compared to $60.9 million for the second quarter 2014.

U.S. non-engagement net sales for the second quarter 2015 increased 3.5% to $28.7 million, compared to $27.7 million for the second quarter 2014.

International net sales for the second quarter 2015 were $19.5 million, compared to $18.0 million for the second quarter 2014, an increase of 8.9%. Excluding the impact from changes in foreign exchange rates, international net sales increased 15.3%.

Gross profit for the second quarter 2015 totaled $22.1 million. As a percent of net sales, gross profit was 19.4% compared to 18.9% for the second quarter 2014.

Selling, general and administrative expenses for the second quarter 2015 were $18.7 million, compared to $17.0 million in the second quarter 2014. Selling, general and administrative expenses included stock-based compensation expense of $1.3 million for the second quarter in 2015 and $1.1 million for the second quarter in 2014.

Earnings per diluted share for the second quarter 2015 was $0.20 compared to $0.18 for the second quarter 2014.  Earnings per diluted share included stock-based compensation expense of $0.07 for the second quarter 2015 and $0.05 for the second quarter 2014.



The following information was filed by Blue Nile Inc on Friday, August 7, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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

CIK: 1091171
Form Type: 10-Q Quarterly Report
Accession Number: 0001091171-15-000116
Submitted to the SEC: Tue Aug 11 2015 5:22:40 PM EST
Accepted by the SEC: Tue Aug 11 2015
Period: Sunday, July 5, 2015
Industry: Retail Jewelry Stores

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