Shares of Blue Nile fall after earnings report

Seattle online jewelry retailer Blue Nile today announced first quarter results, posting net income of $2.4 million on revenue of $80.2 million. The company’s international sales drove a lot of the growth, up 34 percent to $12.9 million.

“We remain focused on our key objective of building our business in the U.S. and internationally by investing in growth initiatives from product innovation and marketing to continued enhancement across the Blue Nile experience,” said CEO Diane Irvine in a press release.

The company finished the quarter with $79.1 million in cash, up from $47.2 million during the same period last year. Blue Nile said it anticipates sales of between $82 million and $84.5 million in the second quarter.

Shares of the company fell nearly four percent in trading today, and they were down nearly seven percent in after hours trading.