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PriceSmart fiscal Q3 profit climbs YOY

PriceSmart Inc. said its normalized net income for the fiscal third quarter ended May 31 amounted to 68 cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

EPS rose year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.4 million, a gain from $19.6 million in the prior-year period.

The normalized profit margin fell to 2.9% from 3.2% in the year-earlier period.

Total revenue grew 13.3% year over year to $697.1 million from $615.0 million, and total operating expenses increased 13.6% on an annual basis to $662.9 million from $583.3 million.

Reported net income came to $20.9 million, or 70 cents per share, compared to $20.9 million, or 70 cents per share, in the year-earlier period.