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Blue Nile Inc (NILE) SEC Filing 10-Q Quarterly report for the period ending Sunday, July 3, 2016

Blue Nile Inc

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CIK: 1091171


Exhibit 99.1

Blue Nile Announces Second Quarter 2016 Financial Results

Second Quarter Net Sales of $113.8 million
Second Quarter Earnings Per Diluted Share of $0.18

SEATTLE, August 8, 2016 -- Blue Nile, Inc. (Nasdaq: NILE), a leading online retailer of diamonds and fine jewelry, today reported financial results for its second quarter ended July 3, 2016.
Net sales increased to $113.8 million for the second quarter ended July 3, 2016 compared to $113.7 million for the second quarter ended July 5, 2015. Operating income for the quarter totaled $3.3 million, representing an operating margin of 2.9% of net sales, compared to $3.4 million in operating income and 3.0% operating margin for the second quarter 2015. Net income totaled $2.1 million, or $0.18 per diluted share versus $2.3 million, or $0.20 per diluted share for the second quarter 2015.
Non-GAAP adjusted EBITDA for the quarter totaled $5.6 million compared to $5.7 million for the second quarter 2015. For the trailing twelve month period ended July 3, 2016, net cash provided by operating activities totaled $9.3 million compared to $16.2 million for the trailing twelve month period ended July 5, 2015. For the trailing twelve month period ended July 3, 2016, non-GAAP free cash flow totaled $4.7 million, as compared to $12.1 million for the trailing twelve month period ended July 5, 2015.
“Blue Nile continues to reimagine the retail experience by bridging the on and offline user experience through the Webroom concept, which will feature five locations by year end,” said Harvey Kanter, Blue Nile Chairman, CEO and President. “Our results reflect a higher level of investment than we anticipated, and while this impacted short-term results, we believe it will create long-term scale and profitability.”
 
Highlights
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U.S. engagement net sales for the second quarter 2016 decreased 4.4% to $62.6 million, compared to $65.5 million for the second quarter 2015.

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U.S. non-engagement net sales for the second quarter 2016 increased 5.9% to $30.4 million, compared to $28.7 million for the second quarter 2015.

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International net sales for the second quarter 2016 were $20.8 million, compared to $19.5 million for the second quarter 2015, an increase of 6.4%. Excluding the impact from changes in foreign exchange rates, international net sales increased 9.4%.

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Gross profit for the second quarter 2016 totaled $22.4 million. As a percent of net sales, gross profit was 19.7% compared to 19.4% for the second quarter 2015.

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Selling, general and administrative expenses for the second quarter 2016 were $19.1 million, compared to $18.7 million in the second quarter 2015. Selling, general and administrative expenses included stock-based compensation expense of $1.1 million for the second quarter in 2016 and $1.3 million for the second quarter in 2015.

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Earnings per diluted share for the second quarter 2016 was $0.18 compared to $0.20 for the second quarter 2015.  Earnings per diluted share included stock-based compensation expense of $0.07 for both the second quarter 2016 and the second quarter 2015.

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At the end of the second quarter 2016, cash and cash equivalents totaled $36.6 million.

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During the second quarter 2016, Blue Nile repurchased 12,765 shares of its common stock for $0.3 million.

The following information was filed by Blue Nile Inc on Monday, August 8, 2016 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: 0001091171-16-000287
Submitted to the SEC: Tue Aug 09 2016 5:03:50 PM EST
Accepted by the SEC: Tue Aug 09 2016
Period: Sunday, July 3, 2016
Industry: Retail Jewelry Stores

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