Issaquah, WA, October 13, 2006--Costco in the fourth quarter reported revenue that increased 19 percent over the prior year, while earnings edged up slightly.
The company reported net income of $355.6 million on revenue of $19.8 billion for the 17-week period that ended Sept. 3. That compares to a net income of $354.6 million on revenue of $16.7 billion for the comparable period last year.
Earnings per share for the quarter were $0.75, compared to $0.73 for the fourth quarter of 2005.
The company credited the strong quarter to favorable tax circumstances, better-than-expected operating results, profitable gasoline sales and lower-than-expected workers' compensation costs.
For the fiscal year, the company reported a net income of $1.1 billion on $60.1 billion in revenue. Costco finished last year with a net income of $1 billion on revenue of $52.9 billion.
