PriceSmart Announces Fourth Quarter and Fiscal Year Results of Operations October Sales
(firmenpresse) - SAN DIEGO, CA -- (Marketwire) -- 11/09/11 -- PriceSmart, Inc. (NASDAQ: PSMT) () today announced its results of operations for the fourth quarter and fiscal year 2011 which ended on August 31, 2011.
For the fourth quarter of fiscal year 2011, net warehouse club sales were $436.0 million compared to $357.0 million in the fourth quarter of fiscal year 2010. Total revenue for the fourth quarter was $447.0 million compared to $365.7 million in the prior year. The Company had 29 warehouse clubs in operation as of the end of fiscal year 2011 compared to 27 warehouse clubs in operation at the end of fiscal year 2010.
Operating income in the fourth quarter of fiscal year 2011 was $18.7 million compared to operating income of $20.1 million in the fourth quarter of fiscal year 2010.
The Company recorded net income attributable to PriceSmart for the fourth quarter of $12.7 million or $0.42 per diluted share compared to net income attributable to PriceSmart of $13.2 million or $0.44 per diluted share in the fourth quarter of fiscal year 2010.
Net warehouse club sales increased 22.7% to $1.68 billion during fiscal year 2011 compared to $1.37 billion in the prior year, and total revenue for fiscal year 2011 increased 22.8% to $1.71 billion from $1.40 billion in fiscal year 2010. For fiscal year 2011, the Company recorded operating income of $90.9 million and net income attributable to PriceSmart of $61.8 million, or $2.07 per diluted share. For fiscal year 2010, the Company recorded operating income of $74.9 million and net income attributable to PriceSmart of $49.3 million or $1.65 per diluted share.
The Company will file its Annual Report on Form 10-K for the year ended August 31, 2011 on or before November 14, 2011.
The Company also today announced that for the month of October 2011 net warehouse club sales increased 23.9% to $159.6 million from $128.8 million in October a year earlier. For the two months ended October 31, 2011, net warehouse club sales increased 24.7% to $305.9 million from $245.4 million for the two months ended October 31, 2010. There were 29 warehouse clubs in operation at the end of October 2011 and 27 warehouse clubs in operation at the end of October 2010.
For the four weeks ended October 30, 2011, comparable warehouse sales for the warehouse clubs open at least 13 1/2 full months increased 18.9%, compared to the same four-week period last year. For the eight-week period ended October 30, 2011, comparable warehouse sales increased 18.9%, compared to the same eight-week period a year ago.
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 29 warehouse clubs in 12 countries and one U.S. territory (five in Costa Rica; four each in Panama and Trinidad; three each in Guatemala and Dominican Republic; two each in El Salvador and Honduras; and one each in Aruba, Barbados, Colombia, Jamaica, Nicaragua and the United States Virgin Islands).
This press release may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including the following risks: the Company's financial performance is dependent on international operations which exposes the Company to various risks; any failure by the Company to manage its widely dispersed operations could adversely affect its business; the Company faces significant competition; the Company may encounter difficulties in the shipment of, and risks inherent in the acquisition and importation of, merchandise to its warehouse clubs; the Company is exposed to weather and other natural disaster risks; declines in the economies of the countries in which the Company operates its warehouse clubs would harm its business; a few of the Company's stockholders own nearly 31.9% of the Company's voting stock, which may make it difficult to complete some corporate transactions without their support and may impede a change in control; the loss of key personnel could harm the Company's business; the Company is subject to volatility in foreign currency exchange; the Company faces the risk of exposure to product liability claims, a product recall and adverse publicity; a determination that the Company's long-lived or intangible assets have been impaired could adversely affect the Company's future results of operations and financial position; although the Company takes steps to continuously review, enhance, and implement improvements to its internal controls, there may be material weaknesses or significant deficiencies that the Company has not yet identified; as well as the other risks detailed in the Company's U.S. Securities and Exchange Commission ("SEC") reports, including the Company's Annual Report on Form 10-K filed for the year ended August 31, 2010 filed pursuant to the Securities Exchange Act of 1934 on November 9, 2010. We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.
See accompanying notes.
For further information, please contact
John M. Heffner
Principal Financial Officer and Principal Accounting Officer
(858) 404-8826
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Datum: 09.11.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 85723
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SAN DIEGO, CA
Kategorie:
Apparel
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