PriceSmart Q2 net income surges 31%

San Diego -- Warehouse club operator PriceSmart reported Thursday that net income for the quarter ended Feb. 28 rose 31% to $17.9 million, compared with $13.7 million in the year-ago period. Revenue rose 23% to $449.6 million from $366.1 million, mainly on higher warehouse club sales. Wall Street expected revenue of $386.1 million. Same-store sales rose 16.7% in March.