Blue Nile (NILE) Tops Q3 EPS by 1c; Renews $100M Stock Buyback

Blue Nile (NASDAQ: NILE) reported Q3 EPS of $0.17, $0.01 better than the analyst estimate of $0.16. Revenue for the quarter came in at $109.9 million versus the consensus estimate of $111.08 million.

Blue Nile’s Board of Directors authorized the renewal of the Company’s share repurchase program. The Company is authorized to repurchase up to $100.0 million of its common stock over the next 27 months.

"Today we announced another quarter of continued growth and heightened profitability, delivering double-digit increases in net income and earnings per share," said Harvey Kanter, Blue Nile Chairman, CEO, and President. "Importantly, we expanded profitability while at the same time investing in initiatives to drive greater long-term growth. These initiatives, which include online and offline marketing and the Webroom concept, focus on building awareness and generating a greater level of trust for buying diamonds and fine jewelry online."

For earnings history and earnings-related data on Blue Nile (NILE) click here.

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