bluenileBlue Nile, the Seattle online retailer of diamonds and jewelry, said that third quarter revenues increased 10.1 percent to $98.9 million. Net income also rose to $2.9 million, up from $1.7 million for the same period last year.

“These results demonstrate once again that our strategy is working. Our third quarter sales increase of 10.1% is on top of 19.8% in the prior year and is our sixth consecutive quarter of double digit growth,” said Harvey Kanter, President and Chief Executive Officer, in a statement. “For the upcoming holiday season, we are excited to feature a rich product assortment delivered through an enhanced user experience on the PC, tablet, and phone, and supported by our industry-leading customer service.”

The company reported cash and cash equivalents of $47.9 million, and the board authorized a buyback of up to $100 million in stock over the next two years. The company expects sales of $146 million and $161 million during the critical fourth quarter.

Blue Nile’s stock isn’t moving much today on the news. It is up five percent on the year, with the company now boasting a market value just over $500 million.

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