PriceSmart, Inc. owns and operates merchandising businesses. The company’s primary business is international merchandising consisting of membership shopping warehouses.
Value
Total number of shares outstanding as of March 10, 2000 5,100,000
Price of each share of common stock on March 10, 2000 $41.00
Aggregate market value as of March 10, 2000 $209,100,000.00
Performance Record
For year ended, Aug. 31, in thousands, except per-share data
1999 1998 1997
Revenues $108,872 $97,188 $74,375
Net income (loss) $(3,892) $3,028 $(24,843)
Net income (loss) per share $(0.76) $0.50 $(4.20)
Total assets $152,074 $124,576 $125,885
Directors
Robert E. Price, 57, has been chairman since July 1994, and he served as president and CEO from July 1994 to January 1998.
Gilbert A. Partida, 37, has been director since July 1997 and has been president and CEO since January 1998.
Rafael E. Barcenas, 55, has been director since April 1998. He also has been director of PriceCostco de Panama, S.A., and P.B. Real Estate, S.A.
Katherine L. Hensley, 62, has been director since July 1997. She is a lawyer and retired partner of the law firm of O’Melveny & Myers.
Leon C. Janks, 50, has been director since July 1997. Since 1980, he has been a partner of Alder, Green & Hasson, an accounting firm. He also serves on Expert Ease Software, Inc.
Lawrence B. Krause, 69, has been a director since July 1997. Since 1986, he has been a professor and director of Korea-Pacific Program at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego.
James F. Cahill, 44, has been director since November 1999. Since 1987, he has been executive vice president of Price Entities.
Executive Compensation
Officers Cash Compensation
Gilbert Partida, president and CEO $356,862
Robert Gans, executive vice president, general counsel and secretary $175,000
Thomas Martin, executive vice president of merchandising $190,000
Kurt May, executive vice president and COO $226,539
Karen Ratcliff, former executive vice president of finance $168,500
Significant Stock Ownership
Number of shares Percent
Nov. 23, 1999
Sol Price 1,748,624 34.3
Robert Price 1,275,066 25.0
James Cahill 714,188 14.0
Performance Capital, LP 326,500 6.4
Wynnefield Partners Small Cap Value 320,900 6.3
All executive officers and directors as a group (10 persons) 1,650,754 31.2
OTHER INFORMATION
Headquarters: 4649 Morena Blvd., San Diego, CA 92117; (858) 581-4530; fax (858) 581-4500; (www.pricesmart.com)
Auditors: Ernst & Young LLP, San Diego
Information was compiled from the company’s annual and proxy reports.
