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Fine jewelry retailer Blue Nile registers strong earning growth in Q2
03 Aug '05
4 min read
- Gross profit for the second quarter was $10.0 million, compared to $7.9 million in the second quarter of 2004, an increase of 26.0 percent. Gross profit as a percentage of net sales was 22.8 percent in the quarter versus 22.6 percent in the prior year period.
- Selling, general and administrative expenses increased 20.9 percent in the second quarter of 2005 from $5.1 million to $6.2 million, reflecting the Company's increase in net sales, additional administrative expenses required as a public company and increased marketing expenses. As a percentage of net sales, selling, general and administrative expenses were 14.1 percent, compared to 14.6 percent in the second quarter of 2004.
- For the trailing twelve month period ended July 3, 2005, non-GAAP free cash flow was $19.9 million, compared to $12.2 million in the prior year, an increase of 62.8 percent. Net cash provided by operating activities for the trailing twelve month period ended July 3, 2005 was $21.6 million, compared to $15.4 million in the prior year.
- Capital expenditures in the second quarter of 2005 totaled $189,000, compared to $323,000 in the second quarter of 2004.
Expectations for the Third Quarter ending October 2, 2005:
- Third quarter net sales are expected to be between $40.5 million and $42.5 million.
- Net income is expected to be $0.10 to $0.11 per diluted share.
Updated expectations for the Full Year ending January 1, 2006:
- Net sales are expected to be between $205.0 million and $212.0 million.
- Selling, general and administrative expenses increased 20.9 percent in the second quarter of 2005 from $5.1 million to $6.2 million, reflecting the Company's increase in net sales, additional administrative expenses required as a public company and increased marketing expenses. As a percentage of net sales, selling, general and administrative expenses were 14.1 percent, compared to 14.6 percent in the second quarter of 2004.
- For the trailing twelve month period ended July 3, 2005, non-GAAP free cash flow was $19.9 million, compared to $12.2 million in the prior year, an increase of 62.8 percent. Net cash provided by operating activities for the trailing twelve month period ended July 3, 2005 was $21.6 million, compared to $15.4 million in the prior year.
- Capital expenditures in the second quarter of 2005 totaled $189,000, compared to $323,000 in the second quarter of 2004.
Expectations for the Third Quarter ending October 2, 2005:
- Third quarter net sales are expected to be between $40.5 million and $42.5 million.
- Net income is expected to be $0.10 to $0.11 per diluted share.
Updated expectations for the Full Year ending January 1, 2006:
- Net sales are expected to be between $205.0 million and $212.0 million.
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Ritesh Dodhia
Dodhia Synthetics Limited
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