May 27, 2004 12:35 PM, from staff and wire reports

Costco Wholesale Corp announced its operating results for the third quarter and first 36 weeks of fiscal 2004, ended May 9, 2004. Net sales for the third quarter of fiscal 2004 increased 14% to $10.67 billion from $9.34 billion during the third quarter of fiscal 2003. Net income for the third quarter of fiscal 2004 rose 29% to $198.7 million from $153.8 million during the third quarter of fiscal 2003.

For the first 36 weeks of fiscal 2004, net sales climbed 14% to $32.31 billion from $28.28 billion in the comparable period of fiscal 2003. Net income for the first 36 weeks of fiscal 2004 advanced 22% to $585.6 million, versus net income of $481.6 million for the same period of fiscal 2003.

Costco operates 433 warehouses, including 320 in the United States and Puerto Rico, 63 in Canada, 15 in the United Kingdom, five in Korea, three in Taiwan, four in Japan, and 23 in Mexico.