PSMT FY 2011 Earnings Report — PriceSmart, Inc. Revenue & Financial Results | Market Cap Arena

PriceSmart, Inc.PSMT

FY 2011 Earnings

Reported November 9, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.4B	—	22.8%
Op. Income	$91M	—	$75M	—	21.3%
Gross Margin	16.5%	—	16.9%	—	-0.3pp
Net Margin	3.5%	—	3.5%	—	0.0pp
EPS (Diluted)	$2.07	—	$1.65	—	25.5%
Free Cash Flow	$29M	—	$33M	—	-13.0%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.4B
GROSS PROFIT	$284M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$191M
Other Expenses	-$1M
Operating Expenses	$193M
Cost & Expenses	$1.6B
OPERATING INCOME	$91M
Interest Income	$852.0K
Interest Expense	$3M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$89M
Income Tax Expense	$27M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	-$952.0K
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$21M
EBIT	$93M
EBITDA	$114M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.4B
GROSS PROFIT	$284M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$191M
Other Expenses	-$1M
Operating Expenses	$193M
Cost & Expenses	$1.6B
OPERATING INCOME	$91M
Interest Income	$852.0K
Interest Expense	$3M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$89M
Income Tax Expense	$27M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	-$952.0K
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$21M
EBIT	$93M
EBITDA	$114M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$61M
Depreciation & Amortization	$21M
Stock-Based Compensation	$4M
Deferred Income Tax	$642.0K
Other Non-Cash Items	$304.0K
Change in Working Capital	-$11M
OPERATING CASH FLOW	$76M
Capital Expenditure	-$47M
Acquisitions (Net)	$8M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$39M
Net Debt Issuance	$6M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$18M
Other Financing Activities	-$16M
NET CASH FROM FINANCING	-$31M
FREE CASH FLOW	$29M
Net Change in Cash	$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$77M
Short-Term Investments	$0
Net Receivables	$4M
Inventory	$177M
Other Current Assets	$6M
TOTAL CURRENT ASSETS	$293M
PP&E (Net)	$281M
Goodwill	$37M
Intangible Assets	$0
Long-Term Investments	$8M
Tax Assets	$17M
Other Non-Current Assets	$28M
TOTAL NON-CURRENT ASSETS	$372M
TOTAL ASSETS	$664M
Account Payables	$163M
Short-Term Debt	$10M
Deferred Revenue	$11M
Other Current Liabilities	$14M
TOTAL CURRENT LIABILITIES	$218M
Long-Term Debt	$60M
Deferred Revenue NC	$7M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$70M
TOTAL LIABILITIES	$288M
Common Stock	$3.0K
Additional Paid-In Capital	$384M
Retained Earnings	$28M
Treasury Stock	-$18M
Accum. Other Comp. Income	-$23M
Other Equity	$5M
TOTAL STOCKHOLDERS' EQUITY	$376M
Minority Interest	$0
TOTAL EQUITY	$376M
TOTAL LIABILITIES & EQUITY	$664M
Total Debt	$70M
Net Debt	-$6M