PriceSmart Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2013. For the quarter, the company reported total revenues were $605.6 million compared to $535.3 million in the first quarter of the prior year. Operating income was $32.4 million, compared to operating income of $29.7 million for the first quarter of the prior year. Net income was $21.4 million, or $0.71 per basic and diluted share compared to net income of $20.0 million, or $0.66 per basic and diluted share. Income before provision for income taxes and share unconsolidated affiliates was $31,813,000 compared to $28,788,000 for the same period a year ago.

For the month of December 2013, net sales increased 10.7% to $280.8 million from $253.7 million in December a year earlier. For the four weeks ended December 29, 2013, comparable warehouse sales for the 29 warehouse clubs open at least 13 1/2 full months increased 6.7% compared to the same four-week period last year.

For the four months ended December 31, 2013, net sales increased 12.0% to $870.5 million from $777.3 million in the same period last year. There were 32 warehouse clubs in operation at the end of December 2013 compared to 30 warehouse clubs in operation in December 2012.

For the seventeen-week period ended December 29, 2013, comparable warehouse sales increased 7.5% compared to the comparable seventeen-week period a year ago.

The company also announced that, it acquired approximately 128,600 usable square feet (11,947 usable square meters) of land in the southern area of Pereira, Colombia, upon which the company plans to construct a new warehouse club that is currently planned to open in November 2014. This additional club will be the fourth PriceSmart warehouse club operating in Colombia.