PriceSmart Inc. (PSMT) announced that comparable warehouse sales for warehouse clubs for the month of October decreased 0.3% compared to the same four-week period last year. Net sales for the month increased 4.9% to $104.1 million from $99.3 million in October a year earlier. There were 26 warehouse clubs in operation at the end of October 2009, compared to 25 warehouse clubs in operation in October 2008.
For the fourth quarter of fiscal year 2009, net warehouse sales were $298.0 million compared to $286.1 million in the fourth quarter of fiscal year 2008.
The Company posted net income for the fourth quarter of $10.3 million or $0.35 per share compared to net income of $11.3 million or $0.39 per share in the fourth quarter of fiscal year 2008. Total revenue for the fourth quarter was $305.1 million compared to $292.0 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share on revenues of $307.19 million for the quarter. Analysts' estimates typically exclude special items.
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