November 8, 2011 / 9:41 PM / 6 years ago

UPDATE 2-Blue Nile forecasts weak FY, CEO resigns

2 Min Read

* Chief Executive Diane Irvine resigns

* Senior Vice President Vijay Talwar appointed interim CEO

* Sees Q4 EPS $0.41-$0.43 vs est $0.45

* Sees FY EPS $0.87-$0.89 vs est $0.98

Nov 8 (Reuters) - - Blue Nile Inc forecast weak full-year earnings and said its Chief Executive Diane Irvine has resigned, sending its shares down 15 percent after the bell.

The company gave no reason for Irvine's resignation, who was with Blue Nile since 1999 -- as chief financial officer before taking over as CEO in February 2008.

The online retailer of diamonds and fine jewelry expects full-year earnings of 87-89 cents a share on revenue of $356-$360 million.

Analysts, on average, were expecting earnings of 98 cents a share on revenue of $357 million, according to Thomson Reuters I/B/E/S.

Blue Nile posted third-quarter earnings that missed analysts' estimates, hurt by rising diamond prices.

For the third quarter, the company earned 13 cents a share on revenue of $75 million.

Analysts, on average, had expected the company to earn 17 cents a share on revenue of $72.6 million, according to Thomson Reuters I/B/E/S.

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