PriceSmart Q3 net warehouse club sales increased 13%
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Net income was $21.2 million, or $0.70 per diluted share.
The company recorded operating income during the quarter of $33.5 million, as compared to operating income of $31.2 million in the prior year.
Net income was $21.2 million, or $0.70 per diluted share, in the third quarter of fiscal year 2015 as compared to $21.3 million, or $0.70 per diluted share, in the third quarter of fiscal year 2014.
For the first nine months of fiscal year 2015, net warehouse club sales increased 10.8% to $2,043.8 million from $1,844.7 million in the first nine months of fiscal year 2014.
Total revenues for the first nine months of the fiscal year 2015 increased 11% to $2,103.4 million from $1,895 million in the same period of the prior year. For the first nine months of fiscal year 2015, the company recorded operating income of $111.5 million and net income of $66.7 million, or $2.20 per diluted share.
During the nine month period in fiscal year 2014, the company recorded operating income of $102.9 million and net income of $71 million, or $2.34 per diluted share. The company also announced that for the month of June 2015, net warehouse club sales increased 11.8% to $217.2 million, from $194.3 million in June a year earlier.
For the ten months ended June 30, 2015, net warehouse club sales increased 10.9% to $2,261 million, from $2,039 million for the ten months ended June 30, 2014. There were 37 warehouse clubs in operation at the end of June 2015 and 33 warehouse clubs in operation at the end of June 2014.
For the four weeks ended June 28, 2015, comparable warehouse sales for the 32 warehouse clubs open at least 13 1/2 full months increased 4%, compared to the same four-week period last year. For the forty-three week period ended June 28, 2015, comparable warehouse sales increased 2.6%, compared to the comparable forty-three week period a year ago.
The company also announced that on June 25, 2015, the company successfully opened its warehouse club in Costa Verde, Panama, bringing to 37 the total number of warehouse clubs in operation by the company. This warehouse club is the company’s fifth warehouse club in Panama. ■