PriceSmart, Inc. PSMT announced Tuesday its results of operations for the fourth quarter and the twelve months of fiscal year 2014 which ended on August 31, 2014.
Total revenues for the fourth quarter of fiscal year 2014 were $622.6 million, above estimates of $620.8 million and compared to $585.4 million in the comparable period of the prior year.
Net income was $21.9 million, or $0.73 per diluted share, $0.01 below the average estimate for the fourth quarter of fiscal year 2014 as compared to $20.8 million, or $0.69 per diluted share, in the fourth quarter of fiscal year 2013.
For the fourth quarter of fiscal year 2014, net warehouse club sales increased 5.6 percent to $599.6 million from $568.0 million in the fourth quarter of fiscal year 2013.
The Company had 33 warehouse clubs in operation as of August 2014 compared to 31 warehouse clubs in operation as of August 2013.
The Company recorded operating income during the quarter of $33.8 million, as compared to operating income of $32.4 million in the prior year.
Total revenues for the twelve months ended August 31, 2014 increased 9.5 percent to $2.5 billion, inline with estimates and up from $2.3 billion in the same period of the prior year.
For the twelve months ended August 31, 2014, the Company recorded operating income of $136.7 million and net income of $92.9 million, or $3.07 per diluted share, below estimates of $3.09.
PriceSmart Inc. closed at $92.15, up 4.37 percent.
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