PriceSmart Inc. reported consolidated earnings results for the fourth quarter full year ended August 31, 2009. For the quarter, the company reported net income of $10.25 million or $0.35 per diluted share on total revenue of $305.08 million compared to net income of $11.30 million or $0.39 per diluted share on total revenue of $291.96 million for the same period last year. Income from continuing operations before provision for income taxes, loss of unconsolidated affiliates and minority interest was $11.68 million and income from continuing operations was $10.25 million or $0.35 per diluted share compared to income from continuing operations before provision for income taxes, loss of unconsolidated affiliates and minority interest of $12.44 million and income from continuing operations of $42.35 million or $0.39 per diluted share for the same period last year. Operating income was $11.87 million compared to $12.89 million for the same period last year. For the full year, the company reported net income of $42.32 million or $1.45 per diluted share on total revenue of $1,251.63 million compared to net income of $38.11 million or $1.30 per diluted share on total revenue of $1,119.88 million for the same period last year. Income from continuing operations before provision for income taxes, loss of unconsolidated affiliates and minority interest was $55.70 million and income from continuing operations was $42.35 million or $1.45 per diluted share compared to income from continuing operations before provision for income taxes, loss of unconsolidated affiliates and minority interest of $47.43 million and income from continuing operations of $38.21 million or $1.39 per diluted share for the same period last year. Operating income was $57.48 million compared to $48.43 million for the same period last year. The company reported sales results for the months and two months ended October 31, 2009 and four and eight weeks ended October 25, 2009. For the month of October 2009, net sales increased 4.9% to $104.1 million from $99.3 million in October a year earlier. For the two months ended October 31, 2009, net sales increased 3.7% to $200.0 million from $192.9 million in the same period last year. There were 26 warehouse clubs in operation at the end of October 2009, compared to 25 warehouse clubs in operation in October 2008. For the four weeks ended October 25, 2009, comparable warehouse sales for warehouse clubs open at least 12 full months decreased 0.3% compared to the same four-week period last year. For the eight week period ended October 25, 2009, comparable warehouse sales decreased 0.7% compared to the comparable eight week period a year ago.

On October 13, 2009, PriceSmart Inc. announced that Murray L. Galinson will resign from the company's Board of Directors effective October 15, 2009. Mr. Galinson remains a significant stockholder of the company and continues to have a positive and friendly relationship with the Board and company management. The Board has resolved to elect Edgar A. Zurcher to the Board effective October 15, 2009 to fill the vacancy that will arise following Mr. Galinson's resignation. Mr. Zurcher has not been assigned to any committee of the Board. Mr. Zurcher served as a director of the company from November 2000 to February 2008. Mr. Zurcher has been a partner in the law firm Zurcher, Odio & Raven in Costa Rica since 1980, which the Company uses in certain legal matters. Mr. Zurcher is also President of PLP, S.A., as well as a director of Payless ShoeSource Holdings Ltd. PLP, S.A.

PriceSmart Inc. reported sales results for the months of September 2009. The company announced that for the month of September 2009, net sales increased 2.4% to $95.8 million from $93.6 million in September a year earlier. There were 26 warehouse clubs in operation at the end of September 2009 compared to 25 warehouse clubs in operation in September 2008.