PriceSmart Q1 Profit Misses Estimate

(RTTNews) - PriceSmart, Inc. (PSMT) reported net income for the first quarter of $20.6 million or $0.68 per share, compared to $21.4 million, or $0.71 per share for the year-ago quarter..

Total revenues for the first quarter rose to $656.0 million from $605.6 million a year earlier. The company had 36 clubs in operation as of November 30, 2014, compared to 32 warehouse clubs in operation as of November 30, 2013.

Analysts polled by Thomson Reuters expected the company to earn $0.73 per share on revenue of $651.03 million for the first quarter.

For the month of December 2014, net sales increased 9.6% to $307.8 million from $280.8 million in December a year earlier.