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Blue Nile Inc (NILE) SEC Filing 10-Q Quarterly report for the period ending Sunday, October 4, 2015

Blue Nile Inc

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CIK: 1091171




Exhibit 99.1

Blue Nile Announces Third Quarter 2015 Financial Results

Third Quarter Net Sales Increased 4.0% to $109.9 million
Third Quarter Earnings Per Diluted Share Total $0.17
Company Announces a Renewal of its Stock Repurchase Program for $100 million


SEATTLE, November 5, 2015 -- Blue Nile, Inc. (Nasdaq: NILE), a leading online retailer of diamonds and fine jewelry, today reported financial results for its third quarter ended October 4, 2015.
Net sales increased 4.0% to $109.9 million for the third quarter ended October 4, 2015 compared to $105.8 million for the third quarter ended September 28, 2014. Operating income for the quarter totaled $3.0 million, representing an operating margin of 2.8% of net sales, compared to $2.6 million in operating income and 2.4% operating margin for the third quarter 2014. Net income totaled $2.0 million, or $0.17 per diluted share versus $1.7 million, or $0.14 per diluted share for the third quarter 2014.
Non-GAAP adjusted EBITDA for the quarter totaled $5.3 million compared to $4.5 million for the third quarter 2014. For the trailing twelve month period ended October 4, 2015, net cash provided by operating activities totaled $14.7 million compared to $14.8 million for the trailing twelve month period ended September 28, 2014. For the trailing twelve month period ended October 4, 2015, non-GAAP free cash flow totaled $10.8 million, as compared to $10.6 million for the trailing twelve month period ended September 28, 2014.
Blue Nile’s Board of Directors authorized the renewal of the Company’s share repurchase program.  The Company is authorized to repurchase up to $100.0 million of its common stock over the next 27 months.
“Today we announced another quarter of continued growth and heightened profitability, delivering double-digit increases in net income and earnings per share,” said Harvey Kanter, Blue Nile Chairman, CEO, and President. “Importantly, we expanded profitability while at the same time investing in initiatives to drive greater long-term growth. These initiatives, which include online and offline marketing and the Webroom concept, focus on building awareness and generating a greater level of trust for buying diamonds and fine jewelry online.”
Highlights
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U.S. engagement net sales for the third quarter 2015 increased 6.9% to $65.0 million, compared to $60.8 million for the third quarter 2014.

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U.S. non-engagement net sales for the third quarter 2015 increased 6.7% to $25.0 million, compared to $23.5 million for the third quarter 2014.

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International net sales for the third quarter 2015 were $19.9 million, compared to $21.5 million for the third quarter 2014, a decrease of 7.2%. Excluding the impact from changes in foreign exchange rates, international net sales increased 3%.

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Gross profit for the third quarter 2015 totaled $21.2 million. As a percent of net sales, gross profit was 19.3% compared to 17.8% for the third quarter 2014.

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Selling, general and administrative expenses for the third quarter 2015 were $18.2 million, compared to $16.3 million in the third quarter 2014. Selling, general and administrative expenses included stock-based compensation expense of $1.3 million for the third quarter in 2015 and $1.0 million for the third quarter in 2014.


The following information was filed by Blue Nile Inc on Thursday, November 5, 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

Exhibit 31.1: Section 302 Ceo Certification
Exhibit 31.2: Section 302 Cfo Certification
Exhibit 32.1: Section 906 Ceo Certification
Exhibit 32.2: Section 906 Cfo Certification
CIK: 1091171
Form Type: 10-Q Quarterly Report
Accession Number: 0001091171-15-000142
Submitted to the SEC: Tue Nov 10 2015 5:25:27 PM EST
Accepted by the SEC: Tue Nov 10 2015
Period: Sunday, October 4, 2015
Industry: Retail Jewelry Stores

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