Total revenues for the San Diego-based PriceSmart Inc. increased 61%, to $124.7 million, during the second quarter, from $77.6 million. Net income was $2.5 million, or $0.38 per share compared to net income of $207,000, or $0.04 per share.

For the six months ended Feb. 28, 2001 total revenues rose 80% to $233.1 million from $129.7 million. Net income was $3.4 million, or$0.50 per share, compared to a loss of $2.6 million.

PriceSmart has 17 warehouse clubs operating in seven countries in Central America and the Caribbean—four, including: Panama, three each in Costa Rica and the Dominican Republic; two each in El Salvador, Honduras and Guatemala; and one in Trinidad. As of Feb. 28, PriceSmart membership accounts in the Central American and Caribbean regions totaled about 448,000, representing about 775,000 cardholders.The company plans to open four more stores in the third quarter and one in the fourth quarter of fiscal 2001--its first stores in Aruba, U.S.Virgin Islands, the Philippines and Barbados, as well as and the company's third store in Guatemala--bringing the total number of warehouse clubs to 22 at fiscal year-end. There are also six licensee stores in Asia: five in China and one in Saipan, Micronesia."PriceSmart has delivered strong operating results," stated Gil Partida, PriceSmart president/CEO. "We believe our performance to date demonstrates that we are building an exciting and sustainable warehouse club business in emerging markets."