NW CORPORATE RESULTS | Dollar figures in thousands, except per share; parentheses denote losses. Blue Nile Internet jewelry sales March...

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Dollar figures in thousands, except per share; parentheses denote losses.

Blue Nile
Internet jewelry sales
March 31 %
1st QTR 2008 2007 CHG
Profit $2,571 $3,163 -18.7
Per share 0.16 0.19 -15.8
Sales 70,460 67,910 +3.8
COMMENT: Citing a weak U.S. consumer environment, Seattle-based Blue Nile told analysts in a conference call that sales of jewelry above $100,000 were particularly weak during the quarter, while transactions between $5,000 and $25,000 were fairly weak. Sales between $25,000 and $50,000 — and sales for $5,000 or less — were less affected by the macroeconomic environment. International sales totaled $5.7 million, up 124 percent from a year ago. For fiscal 2008, Blue Nile has set a goal of growing its net sales by at least 10 percent and posting a per-share profit in line with last year’s. Also, the company announced that it has hired Marc Stolzman as chief financial officer. Stolzman will join Blue Nile on June 9 from Imperium Renewables. He previously held executive positions at Starbucks.
HouseValues
Online real-estate services
March 31 %
4th QTR 2008 2007 CHG
Profit ($1,192) ($1,616) +26.2
Per share (0.05) (0.07) +28.6
Sales 11,196 17,838 -37.2
COMMENT: The Kirkland company’s first-quarter revenue decline reflects significantly fewer customers in the company’s agent-direct business matching homeowners with real-estate agents in a struggling housing market.
Lumera
Designs optic components for telecom and computing
March 31 %
1st QTR 2008 2007 CHG
Profit ($6,041) ($2,696) -124
Per share (0.30) (0.13) -130
Sales 484 860 -44
COMMENT: The Bothell company has proposed merging with GigOptix LLC and announced four government contracts in the quarter.
Marchex
Local search, advertising
March 31 %
1st QTR 2008 2007 CHG
Profit ($1,235) $548
Per share (0.03) 0.01
Sales 37,042 34,223 +8.2
COMMENT: Despite revenue growth, the Seattle company swung to a loss in the first quarter. Marchex attributed revenue growth to an increase in customers. It now has more than 65,000 advertisers using its products after adding more than 10,000 new advertisers in the first quarter. The company expects full-year revenue of $152 million.
ZymoGenetics
Biotechnology
March 31 %
1st QTR 2008 2007 CHG
Profit ($40,896) ($33,309) -22.8
Per share (0.60) (0.49) -22.4
Revenue 13,512 5,182 +161
COMMENT: The Seattle company’s first-quarter loss widened as it ramped up sales and marketing efforts for its first commercial product, Recothrom. Revenue soared, however, as the company received milestone payments from partner Bayer and sold about $1 million worth of Recothrom, a topical product to control surgical bleeding.