Leading online retailer of diamond jewelry Blue Nile announced increased net sales in the first quarter of 2012, Diamond News reported. In the first three months of the calendar year, Blue Nile recorded more than $83 million in net sales, an increase of 3.6%. Blue Nile's net income for this period was $154,000, amounting to $0.01 per diluted share.
The diamond company's net cash provided by operating activities was $18.4 million for the year-long period between April 2011 and March 2012, according to Diamond News.
Blue Nile newly installed chief executive officer Harvey Kanter, who took over the position only one month ago, expressed pleasure at the company's positive momentum and reversal of a downward trend, which he attributed in part to recent increase in its customer base. Kanter added that since the start of 2012, Blue Nile has increased its investments in U.S. and international markets.