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PriceSmart Beats on Q2 EPS

By Eric Volkman - Apr 9, 2013 at 5:25PM

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The retailer posts a nickel-per-share upside surprise.

PriceSmart (PSMT -1.22%) posted an upside surprise in its fiscal Q2 2013 results. For the quarter, total revenues amounted to $607 million, up from the $548 million in the same period the previous year. Net income also saw a rise over that time span, to $24.9 million ($0.82 per diluted share) from Q2 2012's $20.2 million ($0.67).

Analysts had been expecting slightly higher revenue of nearly $610 million, but the company exceeded outside EPS projections of $0.77.

PriceSmart also released its metrics for March, which showed its core net warehouse club sales advancing by 11.5% on a year-over-year basis to $192 million. In the seven months ended March 31, those figures were 11% and $1.3 billion, respectively.

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