- Net revenues were $121.5 million, an increase of 6.7% versus last year.
- Comparable store sales increased by 4.3%.
- Pre-tax loss was $10.6 million, a 13.5%, or $1.7 million improvement versus last year. (Due to seasonality, West Marine has historically reported a loss for the first quarter.)
- Net loss per share was $(0.27) compared to $(0.55) in 2011. (2012 net loss reflected the significant favorable impact of a change in effective tax rate to a benefit of 41.2% this year versus a provision of 0.5% last year.)
- At quarter end, the company was debt-free. At the end of the comparable period last year, West Marine had $21.1 million outstanding under its credit facility.
- Inventory per square foot decreased by 4.3% compared to the first quarter last year.
West Marine Reports Improved First Quarter 2012 Operating Results
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.