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Blue Nile reports second quarter net sales of $73.7 mn

06 Aug '08
4 min read

• Capital expenditures in the second quarter totaled $0.4 million, compared to $1.9 million in the second quarter of 2007.

Financial Guidance:
Actual results may be materially affected by many factors, such as consumer spending, economic conditions and the various factors detailed below.

Expectations for the third quarter 2008 (Quarter Ending September 28, 2008):
• Net sales growth is expected to be in the range of 0% to 5%.

• Net income is expected to be in a range of $0.15 to $0.17 per diluted share. The estimated net income per diluted share includes the estimated impact of stock compensation expense of approximately $0.08 per diluted share, compared to $0.05 per diluted share in the third quarter of 2007.

• The effective tax rate for the quarter is expected to be approximately 35%.

Revised expectations for fiscal year 2008 (Year Ending January 4, 2009):

• Our expectation for net sales and non-GAAP adjusted EBITDA is mid-single digit percentage growth for the year.

• Our net income per diluted share goal for 2008 is to achieve an EPS level that is consistent with the level achieved in 2007.

• Stock compensation expense for the year is estimated at approximately $0.30 per diluted share, an incremental impact of $0.08 per diluted share compared to 2007.

• The effective tax rate for the year is expected to be approximately 35%.

• Capital expenditures are expected to be approximately $2.5 million.

Blue Nile reports fiscal results on a 52/53-week format. The Company's fiscal 2008 reporting period includes 53 weeks, with the additional week falling into the fourth quarter.

Blue Nile Inc

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