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PriceSmart profit misses consensus by 19.2% in fiscal Q2

PriceSmart Inc. said its normalized net income for the fiscal second quarter ended Feb. 28 was 81 cents per share, compared with the S&P Capital IQ consensus estimate of $1.00 per share.

EPS decreased year over year from 83 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.2 million, a decrease from $24.7 million in the prior-year period.

The normalized profit margin declined to 3.2% from 3.7% in the year-earlier period.

Total revenue increased 11.3% on an annual basis to $750.3 million from $674.4 million, and total operating expenses rose 11.5% year over year to $708.2 million from $634.9 million.

Reported net income declined 11.5% on an annual basis to $24.5 million, or 82 cents per share, from $27.7 million, or 93 cents per share.