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Blue Nile, Red Slaughterhouse (NILE)

Blue Nile Inc. (NASDAQ: NILE) is seeing a total smack-down in after-hours trading. The Seattle-based online jewelry retailer said Q4 net income rose considerably to $7.54 million which translates to $0.45 EPS. This is up from $5.75 million, or $0.35 in Q4-2006, and analysts at First Call had consensus at $0.44 EPS. NILE’s sales increased 23% to $111.9 million from $90.7 million, and First Call has estimates at $113.15 million. While earnings were acceptable, the guidance is horrible. For the first quarter of 2008, Blue Nile expects $0.11 to $0.14 EPS on relatively flat net sales compared to the Q1-2007…
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