Blue Nile, Inc. (NILE) has reported a 34.60 percent plunge in profit for the quarter ended Oct. 02, 2016. The company has earned $1.29 million, or $0.11 a share in the quarter, compared with $1.98 million, or $0.17 a share for the same period last year.
Revenue during the quarter dropped 4.40 percent to $105.11 million from $109.94 million in the previous year period. Gross margin for the quarter expanded 33 basis points over the previous year period to 19.64 percent. Total expenses were 98.29 percent of quarterly revenues, up from 97.24 percent for the same period last year. That has resulted in a contraction of 105 basis points in operating margin to 1.71 percent.
Operating income for the quarter was $1.80 million, compared with $3.04 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $4.18 million compared with $5.26 million in the prior year period. At the same time, adjusted EBITDA margin contracted 81 basis points in the quarter to 3.98 percent from 4.79 percent in the last year period.
Operating cash flow remains negative
Blue Nile, Inc. has spent $34.49 million cash to meet operating activities during the nine month period as against cash outgo of $45.01 million in the last year period.
The company has spent $4.18 million cash to meet investing activities during the nine month period as against cash outgo of $1.54 million in the last year period.
The company has spent $7.33 million cash to carry out financing activities during the nine month period as against cash outgo of $10.96 million in the last year period.
Cash and cash equivalents stood at $40.56 million as on Oct. 02, 2016, up 20.68 percent or $6.95 million from $33.61 million on Oct. 04, 2015.
Debt comes down
Blue Nile, Inc. has recorded a decline in total debt over the last one year. It stood at $0.46 million as on Oct. 02, 2016, down 6.64 percent or $0.03 million from $0.50 million on Oct. 04, 2015. Total debt was 0.42 percent of total assets as on Oct. 02, 2016, compared with 0.49 percent on Oct. 04, 2015. Debt to equity ratio was at 0.02 as on Oct. 02, 2016, down from 0.04 as on Oct. 04, 2015.
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