Issaquah, Wash., Costco Wholesale Corp. said Thursday fourth-quarter earnings edged up 1%, driven by a 19% revenue increase, an unexpectedly strong operating performance late in the quarter and lower-than-expected workers’ compensation costs.
Net income grew to $355.6 million for the period ended Sept. 3, from $354.7 million a year ago. Revenue increased to $19.9 billion from $16.7 billion last year. Same-store sales rose 8%.
Net income for fiscal 2006 increased to $1.10 billion, from $1.06 billion a year ago. Revenue rose to $60.2 billion from $53 billion.