Blue Nile Inc. (NILE: Quote) reported that its second-quarter net income declined to $1.58 million or $0.11 per share, from $2.84 million or $0.19 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $90.98 million from $80.52 million in the prior year quarter. Eight analysts had consensus revenue estimate of $88.89 million for the quarter.
For the third quarter of 2012, Earnings per share are projected at $0.10 to $0.14. Net sales are expected to be between $87.0 million and $91.0 million. Analysts expect the company to report earnings of $0.17 per share on revenues of $ 85.11 million for the third-quarter.
For fiscal 2012, Earnings per share are still projected at $0.70 to $0.85. Net sales are still expected to be between $384.0 million and $417.0 million. Analysts expect the company to report earnings of $0.67 per share on revenues of $389.82 million for fiscal 2012.
NILE closed Thursday's regular trading at $23.75, down $0.40 or 1.66%. However, in the after-hours, the stock is up $4.96 or 20.88%.
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by RTT Staff Writer
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