Issaquah, WA, December 8, 2005--Costco reported earnings in the first quarter that were up 12 percent as sales rose, helped by growth at its warehouse clubs open at least one year.
The nation's largest wholesale-club operator reported quarterly earnings totaled $215.8 million, or $0.45 per share, up from $193.2 million, or $0.40 per share, a year earlier. The latest quarter included a charge of about $0.1 per share from damage due to Hurricane Wilma in Florida, while the prior year's results included a 1 cent per share charge from four hurricanes in the state.
Sales increased 12 percent to $12.66 billion from $11.34 billion last year, with sales up 9 percent at warehouses open at least one year. Total revenue, which includes membership fees, rose to $12.93 billion from $11.58 billion.
Costco's profit met analysts' estimate of $0.45 cents per share, and was above expectations for $12.82 billion in revenue. The company had not provided specific guidance, but said in October that analysts' estimates were at the high end of what it expected to earn.
