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Blue Nile Recovering

|Includes: Blue Nile, Inc. (NILE)

After having had a depressing run in the past quarters, Blue Nile (NASDAQ:NILE), a leading jewelry retailer with annual revenue of $295.3 million, seems to be back on track. While economic conditions have not improved drastically, the company’s performance is definitely upbeat.

Q1 revenues of $62.4 million fell 11% over the year with EPS of $0.13 compared to $0.16 earned a year ago. The market was expecting revenues of $58.3 million with EPS of $0.10 for the quarter. Though the company refused to give any guidance for the coming quarters, they expect to regain their year-on-year growth trend by Q4 of the fiscal 2009.

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