Actionable news
0
All posts from Actionable news
Actionable news in PSMT: PriceSmart, Inc.,

Pricesmart Announces Second Quarter Results Of Operations

The following excerpt is from the company's SEC filing.

and March Sales

San Diego, CA (April

) - PriceSmart, Inc. (NASDAQ: PSMT) today announced its results of operations for the second quarter of fiscal year 201

For the second quarter of fiscal year 201

, net warehouse club sales increased

% to $

million from

million in the second quarter of fiscal year 201

. Total revenues for the se

cond quarter of fiscal year 2016

were $

million compared to $

million in the comparable period of the prior year. The Company had 3

warehouse clubs in opera tion as of February 201

and 3

The Company recorded operating income during the quarter of $

million, as compared to operating income of $

million in the prior year. Net income was $

million, or $

per diluted share, in the second quarter of fiscal year 201

as compared to $

million, or $0.

For the first six months of fiscal year 201

1,449.8

million from $1,

million in the first six months of fiscal year 201

. Total revenues for the first half of fiscal year 201

million in the same period of the prior year. For the first six months of fiscal year 201

, the Company recorded operating income of $

million and net income of $

per diluted share. During the same six month period in fiscal year 201

45.5 million, or $1.50

The Company also announced that for the month of March 201

creased to $

million, from $2

million in March a year earlier. For the seven months ended March 31, 201

1,677.6

million for the seven months ended March

. There were 3

warehouse clubs in operation at the end of March 201

For the four weeks ended March 2

, comparable net warehouse club sales for the 3

warehouse clubs open at least 13 1/2 full months

%, compared to the same four-week period last year. For the thirty-week period ended March 2

%, compared to the comparable thirty-week period a year ago.

Comparable warehouse sales were negatively impacted by the devaluation of the Colombian peso from the year ago period. Six warehouse clubs in Colombia are in the calculation for comparable warehouse sales. Excluding those warehouse clubs, the f

-week and

-week comparable warehouse sales for the other 30 warehouse clubs open at least 13 ½ full months

% and

increased 2.9

%, respectively.

PriceSmart management plans to host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, April 8, 2016, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (877) 795-3610 for domestic callers or (719) 325-4776 for international callers, and entering participant code 1201714. A digital replay will be available through April 30, 2016, 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 1201714.

About PriceSmart

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 38 warehouse clubs in 12 countries and one U.S. territory (six each in Costa Rica and Colombia; 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).

This press release may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow, proposed warehouse club openings, the Company's performance relative to competitors, the outcome of tax proceedings 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...


More