- Pre-tax income was $21.2 million, a $7.0 million, or 49.0%, increase compared to last year.
- Net income was $29.7 million, or $1.27 per fully diluted share, compared to $13.2 million, or $0.57 per fully diluted share, last year, a 124.3% increase, reflecting a significant tax benefit from the valuation allowance release during the year.
- Net revenues for the fiscal year ended December 31, 2011 were $643.4 million, a $20.6 million or 3.3% increase over last year.
- At year–end, we were debt free.
- Year-end cash balance was nearly double that of last year at $44.0 million.
- Inventory per square foot decreased by 4.9% versus last year.
- Operating cash flow increased by 49.6% to $37.2 million.
West Marine, Inc. (Nasdaq: WMAR) today released unaudited financial results for the fourth quarter and fiscal year ended December 31, 2011. Fiscal Year 2011 Highlights: