PriceSmart, Inc. (PSMT) (NASDAQ: PSMT) today announced its results of operations for the first quarter of fiscal year 2017 which ended on November 30, 2016.
For the first quarter of fiscal year 2017, net warehouse club sales increased 3.7% to $716.1 million from $690.8 million in the first quarter of fiscal year 2016. Total revenues for the first quarter of fiscal year 2017 were $739.6 million compared to $711.9 million in the first quarter of the prior year. The Company had 39 clubs in operation as of November 30, 2016, compared to 38 warehouse clubs in operation as of November 30, 2015.
The Company recorded operating income for the first quarter of $38.4 million, compared to operating income of $37.3 million for the first quarter of the prior year. Net income was $24.9 million, or $0.82 per diluted share, in the first quarter of fiscal year 2017. Net income in the first quarter of fiscal year 2016 was $23.7 million, or $0.78 per diluted share.
PriceSmart management plans to host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, January 6, 2017, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (877) 675-4756 toll free, or (719) 325-4810 for international callers, and entering participant code 5691450. A digital replay will be available through January 31, 2017, following the conclusion of the call by dialing (888) 203-1112 for domestic callers, or (719) 457-0820 for international callers, and entering relay passcode 5691450.
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 39 warehouse clubs in 12 countries and one U.S. territory (seven in Colombia; six in Costa Rica; five in Panama; four in Trinidad; three each in Guatemala, the Dominican Republic and Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands).
Reciba las últimas noticias de la industria en su casilla: