Blue Nile Posts 2.4 Percent Gain in Third Quarter



Blue Nile reported Friday that the company’s net sales of $66.9 million increased 2.4% compared to the third quarter of 2008.

Operating income for the quarter grew 17.6% to $3.9 million compared to $3.3 million in the third quarter last year.

Operating margin expanded 80 basis points to 5.8% of net sales compared to 5.0% of net sales in the third quarter of 2008. Net income improved 10.3% to $2.6 million, or $0.17 per diluted share compared to $2.3 million, or $0.15 per diluted share in the third quarter of 2008.

International sales grew 27.5% in the quarter to $8.8 million compared to $6.9 million in the third quarter of 2008. Excluding the impact from changes in foreign exchange rates, international sales increased 34.8%. Gross profit for the quarter totaled $14.8 million.