San Diego Business Journal

PriceSmart Reports Q4 Net Income of $20.8M

Thursday, October 31, 2013

PriceSmart Inc., the San Diego operator of warehouse club stores in the Caribbean and Central America, reported fiscal 2013 fourth quarter net income of $20.8 million, compared with net income of $17.7 million for the like quarter of FY 2012.

Revenue in the quarter that ended Aug. 31 was $568 million, up from $499 million for the like quarter of last year.

For the full year, PriceSmart reported net income of $84.3 million on revenue of $2.3 billion. That compared with net income of $67.6 million on revenue of $2 billion in FY 2012.

Earlier this month, the company opened its sixth warehouse club in Costa Rica, bringing its total stores to 32 in 12 countries and one U.S. territory.

Shares of PriceSmart, traded under PSMT on Nasdaq, closed Oct. 30 at $103.73, giving the company a market capitalization of $3 billion.

— Mike Allen