Sales and profit are up at Blue Nile

Blue Nile nearly doubled its profits and sold $43.83 million of diamonds and other jewelry in its second quarter.

The Seattle-based Internet retailer on Tuesday posted profits of $2.79 million, compared with $1.86 million during the same period last year.

Second quarter net sales totaled $43.8 million, compared to net sales of $35.0 million in the second quarter of 2004, an increase of 25.1%.

The company says it expects sales to be between $40.5 million and $42.5 million for the third quarter and that full-year sales are expected to fall between $205 million and $212 million.

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