Oct 7, 2004 11:15 AM, from staff and wire reports

Costco Wholesale Corp has announced results of operations for the fourth quarter and fiscal year ended Aug 29, 2004.

Net sales for fiscal 2004 were $47.15 billion, an increase of 13% from $41.69 billion during the prior 52-week fiscal year ended Aug 31, 2003. Comparable warehouse sales gained 10% over the comparable 52-week period of fiscal 2003. Net sales for the fourth quarter ended Aug 29, 2004, rose 11% to $14.83 billion from $13.42 billion during the same period ended Aug 31, 2003. Comparable warehouse sales during the fiscal 2004 quarter advanced 8% over the comparable 16-week period in the prior fiscal year.

Net income for the 2004 fourth quarter surged 24% to $296.8 million from $239.4 million during the fourth quarter of fiscal 2003. Net income for fiscal 2004 climbed 22% to $882.4 million from $721.0 million during fiscal year 2003.