PetSmart Beats Q1 Revenue Expectations, Misses EPS

PriceSmart, Inc. PSMT announced results of operations Thursday for its first quarter of fiscal year 2015 which ended on November 30, 2014. Total revenue for the first quarter of fiscal year 2015 was $656.0 million, above estimates of $651.03 million and the $605.6 million reported in the first quarter of the prior year.

Net warehouse club sales increased 7.9 percent to $636.4 million from $589.7 million in the first quarter of fiscal year 2014.

Net income was $20.6 million, or $0.68 per diluted share, below expectations of $0.73. Net income in the first quarter of fiscal year 2014 was $21.4 million, or $0.71 per diluted share.

For the month of December 2014, net sales increased 9.6 percent to $307.8 million from $280.8 million in December a year earlier. For the four months ended December 31, 2014, net sales increased 8.5 percent to $944.2 million from $870.5 million in the same period last year.

There were 36 warehouse clubs in operation at the end of December 2014 compared to 32 warehouse clubs in operation in December 2013.

PriceSmart traded at $93.33 in the after-hours session, down 0.02 percent.

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Posted In: EarningsNewsAfter-Hours Center
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