PriceSmart Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2012; Provides Sales Results for the Months Ended December 2012
January 09, 2013 at 04:05 pm
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PriceSmart Inc. reported unaudited consolidated earnings results for the first quarter ended November 30, 2012. For the first quarter of fiscal year 2013, net warehouse club sales increased 11.8% to $523.6 million from $468.2 million in the first quarter of fiscal year 2012. Total revenues were $535.3 million compared to $477.5 million in the first quarter of the prior year. Operating income was $29.8 million, compared to operating income of $24.3 million for the first quarter of the prior year. Income from continuing operations before provision for income taxes and income of unconsolidated affiliates was $28,788,000 against $21,922,000 a year ago. Income from continuing operations was $20,005,000 against $13,996,000 a year ago. Net income was $20.0 million or $0.66 per basic and diluted share against $14.0 million, or $0.47 per basic and diluted share a year ago.
For the month of December 2012, net sales increased 11.6% to $253.7 million from $227.4 million in December a year earlier. Net sales increased 11.7% to $777.3 million from $695.6 million in the same period last year.
PriceSmart, Inc. owns and operates United States (US)-style membership shopping warehouse clubs in Latin America and the Caribbean, selling merchandise and providing services to PriceSmart members. The Company operates approximately 52 warehouse clubs in 12 countries and one US territory. Its segments include the US, Central America, the Caribbean and Colombia. It offers merchandise and services in various categories, such as consumables, fresh foods, hardlines, food service and bakery, and health services. It also owns Member's Selection private label products. The Company's consumable products include groceries, cleaning supplies, and health and beauty aids. Its fresh food products include meat, produce, deli, seafood and poultry. The Company's hardline products include electronics, automotive, hardware, sporting goods, and seasonal products. Its softline products include clothing, domestics and home furnishing products. Its health services include optical, audiology and pharmacy.
PriceSmart Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2012; Provides Sales Results for the Months Ended December 2012