Last10K.com

Blue Nile Inc (NILE) SEC Filing 10-K Annual report for the fiscal year ending Sunday, January 1, 2012

Blue Nile Inc

CIK: 1091171

 

LOGO

Exhibit 99.1

Blue Nile Announces Fourth Quarter and Fiscal Year 2011 Financial Results

Fourth Quarter Net Sales of $112.3 Million

Fourth Quarter Earnings Per Diluted Share Total $0.30

Implements Plan to Accelerate Growth

Announces $100 Million Stock Repurchase Program

SEATTLE, February 15, 2012

– Blue Nile, Inc. (Nasdaq: NILE), the leading online retailer of diamonds and fine jewelry, today reported financial results for its fourth quarter and fiscal year ended January 1, 2012.

Net sales for the fourth quarter decreased 2.1% to $112.3 million from $114.8 million in the fourth quarter of 2010. Operating income for the quarter was $6.3 million, compared to $9.2 million in the fourth quarter of 2010. Net income for the fourth quarter totaled $4.2 million. Fourth quarter earnings per diluted share totaled $0.30, compared to $0.41 in the fourth quarter of 2010. Non-GAAP adjusted EBITDA for the fourth quarter was $8.4 million, compared to $11.6 million for the fourth quarter last year.

For the full year, Blue Nile reported net sales of $348.0 million, compared to $332.9 million for the full year of 2010, an increase of 4.5%. Operating income for the full year was $16.9 million compared to $21.3 million in the prior year. Net income for the year was $11.4 million and earnings per diluted share totaled $0.77. Non-GAAP adjusted EBITDA for 2011 was $26.7 million.

Net cash provided by operating activities totaled $15.4 million for the year. Non-GAAP free cash flow for the year was $10.1 million.

“The fourth quarter was challenging for Blue Nile, with weakness in demand from our high end diamond customers and some of our international markets, as well as the continued impact of inflationary pressure on commodity costs. While we managed the business through these headwinds, we implemented components of a new strategy designed to accelerate growth. This plan centers around the acquisition of non-engagement customers, which we believe in the long term will feed growth in our engagement and non-engagement businesses. This strategy drove positive momentum, resulting in our strongest period of customer acquisition since 2007, with new customer growth of 15%. Additionally, in the fourth quarter we achieved order growth of 22% and unit growth of 30% compared to the fourth quarter of 2010. Growth in all three of these metrics accelerated in December and we believe these trends are important indicators of the long term growth potential of our business,” said Vijay Talwar, Chief Executive Officer.

The Company also announced that on February 7, 2012, Blue Nile’s Board of Directors authorized the repurchase of up to $100 million of the Company’s common stock over 24 months. The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.

Selected Financial Highlights

 

   

U.S. engagement net sales for the fourth quarter and full year 2011 were $56.2 million and $186.2 million, respectively. U.S. engagement net sales for the fourth quarter and full year 2010 were $59.8 million and $189.5 million, respectively.


The following information was filed by Blue Nile Inc on Wednesday, February 15, 2012 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.

View differences made from one year to another to evaluate Blue Nile Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Blue Nile Inc.

Continue

Assess how Blue Nile Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Blue Nile Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (schedule Of Future Minimum Lease Payments) (details)
Commitments And Contingencies (tables)
Common Stock
Common Stock (details)
Description Of The Company And Summary Of Significant Accounting Policies
Description Of The Company And Summary Of Significant Accounting Policies (estimated Useful Lives By Major Asset Category) (details)
Description Of The Company And Summary Of Significant Accounting Policies (narrative) (details)
Description Of The Company And Summary Of Significant Accounting Policies (policy)
Description Of The Company And Summary Of Significant Accounting Policies (purchase Concentration By Major Supply Vendor) (details)
Description Of The Company And Summary Of Significant Accounting Policies (tables)
Employee Benefit Plan
Employee Benefit Plan (details)
Income Per Share
Income Per Share (basic And Diluted Net Income Per Share) (details)
Income Per Share (summary Of Antidilutive Securities Outstanding And Excluded From Calculation Of Net Income Per Share) (details)
Income Per Share (tables)
Income Taxes
Income Taxes (components Of Deferred Tax Assets) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Of Statutory Federal Income Tax Rate To Effective Tax Rate) (details)
Income Taxes (schedule Of Expense (benefit) For Income Taxes) (details)
Income Taxes (tables)
Inventories
Inventories (schedule Of Inventories) (details)
Inventories (tables)
Preferred Stock
Preferred Stock (details)
Property And Equipment
Property And Equipment (narrative) (details)
Property And Equipment (schedule Of Property And Equipment) (details)
Property And Equipment (tables)
Related Party Transactions
Related Party Transactions (details)
Segment Information
Segment Information (narrative) (details)
Segment Information (schedule Of Segment Information By Geographic Area) (details)
Segment Information (tables)
Selected Quarterly Financial Information
Selected Quarterly Financial Information (summarized Quarterly Financial Information) (details)
Selected Quarterly Financial Information (tables)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (schedule Of Stock-based Compensation Expense Recognized) (details)
Stock-based Compensation (summary Of Additional Information About Stock Options Outstanding) (details)
Stock-based Compensation (summary Of Stock Option Transaction) (details)
Stock-based Compensation (tables)
Stock-based Compensation (weighted Average Assumptions For Valuation Of Stock Options Granted) (details)
Subsequent Events
Subsequent Events (details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (details)
CIK: 1091171
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-081934
Submitted to the SEC: Mon Feb 27 2012 5:08:23 PM EST
Accepted by the SEC: Mon Feb 27 2012
Period: Sunday, January 1, 2012
Industry: Retail Jewelry Stores

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1091171/0001193125-12-081934.htm