Price Smart ( PSMT), the warehouse club of Central America and the Caribbean, posted an 18% decline in third-quarter profit on Friday.

During the quarter, the company earned $8.7 million, or 30 cents per share, compared with $10.6 million, or 36 cents per share, a year earlier. Analysts had expected earnings of 33 cents.

The company provided little update on business in its terse earnings statement.

The news sent shares in the company tumbling by more than 13% to $16.22 in morning trading. It closed the trading day Friday at $16.25.

The company's revenue rose 8% to $299.6 million from $278 million.
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