PriceSmart Trades Up on Q2 Earnings Results

Warehouse-club operator PriceSmart PSMT released its fiscal second-quarter earnings results on Tuesday after the closing bell. In the wake of the report, the stock was trading up around three percent to $82.70 in the after-hours. The San Diego-based company reported net income for the period of $24.9 million or $0.82 per share, versus $20.2 million or $0.67 per share, in last year's corresponding quarter. This came in above Wall Street analysts' consensus EPS estimates of $0.77. For the second-quarter, net warehouse sales rose 10.1 percent to $591.9 million from $537.6 million last year. Total revenues for the period were $607.41 million compared to $548.41 million last year. This missed Wall Street analysts' consensus revenue estimates of $609.67 million for the period. PriceSmart had 30 clubs in operation as of February 2013 compared to 29 warehouse clubs in February 2012.