Home / Knowledge / News / Blue Nile delivers excellent fourth quarter results
Blue Nile delivers excellent fourth quarter results
12
Feb '10
Blue Nile, Inc. the leading online retailer of diamonds and fine jewelry, reported financial results for its fourth quarter (13 weeks) and fiscal year (52 weeks) ended January 3, 2010.

Net sales for the 13-week fourth quarter increased 20.0% to $102.9 million from $85.8 million in the 14-week fourth quarter of 2008. On a comparable 13-week to 13-week basis, net sales increased 27.4% year-over-year. Operating income for the quarter rose 55.0% to $8.2 million, from $5.3 million in the fourth quarter of 2008.

Net income totaled $5.4 million, an increase of 54.6% over the fourth quarter last year. Earnings per diluted share increased 45.8% to $0.35, compared to $0.24 in the fourth quarter of 2008. Non-GAAP adjusted EBITDA increased 38.3% to $10.6 million for the quarter, compared to $7.7 million for the fourth quarter last year.

For the full 52-week year, Blue Nile reported net sales of $302.1 million, compared to $295.3 million in the 53-week year of 2008, an increase of 2.3%. Operating income rose 21.0% to $19.3 million from $16.0 million in the prior year. Net income for the year increased 10.1% to $12.8 million and earnings per diluted share increased 12.0% to $0.84. Non-GAAP adjusted EBITDA for 2009 increased 16.0% to $29.1 million.

Net cash provided by operating activities totaled $39.0 million for the year. Non-GAAP free cash flow for the year increased to $36.7 million.

"Blue Nile delivered excellent fourth quarter results with strong sales and earnings growth," said Diane Irvine, Chief Executive Officer. "Our brand and our value proposition are resonating with consumers both in the U.S. and in international markets. We are excited about the significant growth opportunities we see ahead and expect to further expand our market share in 2010 and beyond."

On February 9, 2010, 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

• For the fourth quarter, international sales grew 69.6% to a record level $11.7 million. Excluding the impact from changes in foreign exchange rates, international sales increased 59.4%. For the full year, international sales totaled $33.2 million, a 19.9% increase compared to sales of $27.7 million for fiscal year 2008. Excluding the impact from changes in foreign exchange rates, international sales increased 27.4% for the fiscal year.
• Gross profit for the quarter totaled $22.3 million. As a percent of net sales, gross profit improved 110 basis points to 21.7% compared to 20.6% for the fourth quarter of 2008.


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search