- 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
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