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Costco records 1Q net income of $193.2 million

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Costco Wholesale Corp. posted net income of $193.2 million on net sales of $11.34 billion for its first quarter of fiscal 2005 ended Nov. 21, 2004. That compares to net income of $160.2 million on sales of $10.31 billion during the first quarter of its fiscal 2004.

On a comparable warehouse basis (defined as warehouses open at least a year), net sales increased 7%.

Costco operates 449 warehouses, including 333 in the United States and Puerto Rico, 63 in Canada, 15 in the United Kingdom, five in Korea, three in Taiwan, five in Japan and 25 in Mexico.

Costco´s stock was selling at $48.90 a share at the close of NASDAQ on Dec. 8. That compares to a 52-week high and low of $50.46 and $35.05, respectively.

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