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Costco's 4Q Results Top Wall Street Expectations

Costco said higher gas prices and foreign currency exchange rates hurt its performance a bit.

Stripping out their impact, revenue at stores open at least a year rose 6 percent for the total company and for its U.S. locations. Clubs overseas reported a 7 percent increase.

Costco said that its full-year net income rose 17 percent to $1.71 billion, or $3.89 per share, from $1.46 billion, or $3.30 per share, in the previous year. Annual revenue climbed 12 percent to $99.14 billion from $88.92 billion.

Revenue at stores open at least a year increased 7 percent for the total company and U.S. clubs. Internationally, the metric rose 6 percent.

Excluding the impact of higher gas prices and foreign currency exchange rates, the figure climbed 6 percent for the total company and U.S. clubs. It rose 8 percent abroad.

Costco ended fiscal 2012 with 608 warehouses in operation, including 439 in the U.S. and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the U.K., 13 in Japan, nine in Taiwan, eight in Korea and three in Australia.

It opened 16 new locations in fiscal 2012. The company is planning to open about 27 to 30 new warehouse clubs in fiscal 2013.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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