Blue Nile Has First Profitable Year

Blue Nile reports today that net sales for the fourth quarter were $30 million, an increase of 78 percent, giving the company its second consecutive quarterly net profit, and fifth consecutive quarterly operating profit.

Second profitable quarter

The online retailer of diamonds and fine jewelry is also reporting that 2002 was its first profitable year as annual net profit on sales rose 48 percent to $72 million.

Blue Nile CEO, Mark Vadon, says "Our rapid and profitable growth during one of the most challenging retail environments in decades proves our business is not only resonating with consumers, but fulfilling its promise of becoming one of the leading online retailers."