|
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Thousands, except Per Share data
|
3 Months Ended |
9 Months Ended |
|
May 31, 2011
|
May 31, 2010
|
May 31, 2011
|
May 31, 2010
|
| Revenues: |
 |
 |
 |
 |
| Net warehouse club sales |
$ 421,637 |
$ 341,215 |
$ 1,239,232 |
$ 1,008,760 |
| Export sales |
1,890 |
868 |
5,170 |
2,461 |
| Membership income |
5,824 |
5,056 |
16,825 |
14,532 |
| Other income |
1,797 |
1,477 |
5,610 |
4,404 |
| Total revenues |
431,148 |
348,616 |
1,266,837 |
1,030,157 |
| Cost of goods sold: |
 |
 |
 |
 |
| Net warehouse club |
358,535 |
288,289 |
1,050,921 |
854,873 |
| Export |
1,804 |
825 |
4,906 |
2,314 |
| Selling, general and administrative: |
 |
 |
 |
 |
| Warehouse club operations |
38,819 |
31,834 |
111,192 |
92,109 |
| General and administrative |
9,293 |
8,752 |
26,977 |
24,987 |
| Pre-opening expenses |
284 |
840 |
672 |
1,126 |
| Total operating expenses |
408,735 |
330,540 |
1,194,668 |
975,409 |
| Operating income |
22,413 |
18,076 |
72,169 |
54,748 |
| Other income (expense): |
 |
 |
 |
 |
| Interest income |
300 |
122 |
667 |
460 |
| Interest expense |
(984) |
(595) |
(3,012) |
(1,859) |
| Other income (expense), net |
1,838 |
(240) |
1,535 |
(247) |
| Total other income (expense) |
1,154 |
(713) |
(810) |
(1,646) |
| Income from continuing operations before provision for income taxes and loss of unconsolidated affiliates |
23,567 |
17,363 |
71,359 |
53,102 |
| Provision for income taxes |
(7,199) |
(5,309) |
(22,093) |
(16,901) |
| Loss of unconsolidated affiliates |
(3) |
(6) |
(45) |
(11) |
| Income from continuing operations |
16,365 |
12,048 |
49,221 |
36,190 |
| Income (loss) from discontinued operations, net of tax |
(75) |
(4) |
(161) |
40 |
| Net income including noncontrolling interest |
16,290 |
12,044 |
49,060 |
36,230 |
| Net (loss) attributable to noncontrolling interest |
0 |
(20) |
0 |
(132) |
| Net income attributable to PriceSmart |
$ 16,290 |
$ 12,024 |
$ 49,060 |
$ 36,098 |
| Net income per share attributable to PriceSmart and available for distribution: |
 |
 |
 |
 |
| Basic net income per share from continuing operations (in dollars per share) |
$ 0.55 |
$ 0.40 |
$ 1.65 |
$ 1.21 |
| Basic net income (loss) per share from discontinued operations, net of tax (in dollars per share) |
$ 0.00 |
$ 0.00 |
$ 0.00 |
$ 0.00 |
| Basic net income per share (in dollars per share) |
$ 0.55 |
$ 0.40 |
$ 1.65 |
$ 1.21 |
| Diluted net income per share from continuing operations (in dollars per share) |
$ 0.55 |
$ 0.40 |
$ 1.65 |
$ 1.21 |
| Diluted net income (loss) per share from discontinued operations, net of tax (in dollars per share) |
$ 0.00 |
$ 0.00 |
$ 0.00 |
$ 0.00 |
| Diluted net income per share (in dollars per share) |
$ 0.55 |
$ 0.40 |
$ 1.65 |
$ 1.21 |
| Shares used in per share computations: |
 |
 |
 |
 |
| Basic (in shares) |
29,493 |
29,336 |
29,422 |
29,221 |
| Diluted (in shares) |
29,502 |
29,345 |
29,430 |
29,253 |
| Dividends per share (in dollars per share) |
$ 0.00 |
$ 0.00 |
$ 0.60 |
$ 0.50 |