Blue Nile has reported its financial results for the third quarter of the year 2008, witnessing a dip of 2.9 percent in its net sales, as compared to the same period a year ago. The net sales amounted to $65.4 million. Also, the net income faced a decline of 23.33 percent Y-o-Y, amounting to $2.3 million. %% The company did however enjoy an increase of 53 percent in its international sales, which valued at $6.9 million. The company did attribute its lowered net sales to the current economic crisis in the US, but did also experience better operational margins, since its gross profit as a percent of net sales scaled up by 20.3 percent, from 19.8 percent in the same quarter last year. The company is anticipating a challenging holiday season ahead.