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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Feb. 28, 2019
Feb. 28, 2018
Revenues:        
Net merchandise sales $ 820,290 $ 816,573 $ 1,567,733 $ 1,561,974
Export sales 6,844 9,138 15,033 17,285
Membership income 12,845 12,703 25,585 25,078
Other revenue and income 14,446 1,149 25,711 2,298
Total revenues 854,425 839,563 1,634,062 1,606,635
Cost of goods sold:        
Net merchandise sales 705,546 699,355 1,346,701 1,336,591
Export sales 6,486 8,685 14,264 16,434
Non-merchandise 4,826   9,073  
Selling, general and administrative:        
Warehouse club and other operations 75,708 71,951 149,930 141,453
General and administrative 24,968 20,258 52,303 39,088
Pre-opening expenses 97 81 112 511
Asset impairment   1,929   1,929
Loss/(gain) on disposal of assets 258 40 473 199
Total operating expenses 817,889 802,299 1,572,856 1,536,205
Operating income 36,536 37,264 61,206 70,430
Other income (expense):        
Interest income 423 368 814 768
Interest expense (1,001) (992) (2,034) (2,247)
Other income (expense), net (372) 210 (2,191) 488
Total other income (expense) (950) (414) (3,411) (991)
Income before provision for income taxes and income (loss) of unconsolidated affiliates 35,586 36,850 57,795 69,439
Provision for income taxes (11,703) (22,707) (19,243) (32,822)
Income (loss) of unconsolidated affiliates (20) 5 (44) 21
Net income 23,863 14,148 38,508 36,638
Less: net (income) loss attributable to noncontrolling interest (53)   (86)  
Net income attributable to PriceSmart, Inc. $ 23,810 [1] $ 14,148 $ 38,422 [1] $ 36,638
Net income attributable to PriceSmart Inc. per share available for distribution:        
Basic $ 0.79 $ 0.47 $ 1.27 $ 1.21
Diluted $ 0.79 $ 0.47 $ 1.27 $ 1.21
Shares used in per share computations:        
Basic 30,206 30,100 30,189 30,089
Diluted 30,211 30,100 30,200 30,090
Dividends per share $ 0.70 $ 0.70 $ 0.70 $ 0.70
[1] In March 2018, the Company acquired technology, talent and cross-border logistics infrastructure that operated a marketplace and casillero business. Investments in the technology, talent and infrastructure to expand our omni-channel capabilities, together with the operating results from the marketplace and casillero business, negatively impacted Net income attributable to PriceSmart, Inc. by $4.2 million for the quarter and $8.1 million for the six months ended February 28, 2019. Management considers this business to be part of its United States operations.