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.