Breaking News
FONT-SIZE Plus   Neg
Share SHARE

PriceSmart Profit Rises, But Misses Estimates

RELATED NEWS
Trade PSMT now with 

PriceSmart Inc. (PSMT: Quote), an operator of membership warehouse clubs, Wednesday said its profit for the second quarter increased from last year, driven mainly by higher revenues. Earnings for the quarter fell short of analysts' expectations, while revenue exceeded estimates.

The San Diego, California-based company's attributable net income for the quarter improved to $20.2 million or $0.67 per share from $17.9 million or $0.60 per share last year. On average, four analysts polled by Thomson Reuters expected earnings of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

PriceSmart, which operates warehouse shopping clubs in Central America, Latin America and the Caribbean, said total revenues for the quarter grew to $549.8 million from $449.6 million last year. Wall Street analysts on consensus estimated revenues of $539.68 million for the quarter.

Net warehouse club sales increased 22.2 percent to $537.8 million from last year.

Total operating expenses for the quarter increased to $519.5 million from $422.9 million last year.

The company had 29 clubs in operation as of February 2012 compared to 28 clubs as of February 2011.

PSMT closed Wednesday's trading on the Nasdaq at $71.08, down 1.66%, on a volume of 0.3 million shares. The stock further lost 2.22% in after-hours trade.

Register
To receive FREE breaking news email alerts for Pricesmart Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.