Last $12.13 USD
Change Today +0.21 / 1.76%
Volume 51.2K
As of 8:10 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

west marine inc (WMAR) Snapshot

Open
$11.88
Previous Close
$11.92
Day High
$12.16
Day Low
$11.77
52 Week High
01/12/15 - $13.72
52 Week Low
07/25/14 - $8.37
Market Cap
294.9M
Average Volume 10 Days
91.3K
EPS TTM
$0.03
Shares Outstanding
24.3M
EX-Date
--
P/E TM
368.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for WEST MARINE INC (WMAR)

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west marine inc (WMAR) Details

West Marine, Inc. operates as a specialty retailer of boating supplies, gear, apparel, footwear, and other water life-related products primarily in the United States. The company offers core boating products that comprise of maintenance, electronics, sailboat hardware, anchors/docking/moorings, engine systems, safety, electrical, plumbing, boats/outboards, ventilation, deck hardware/fasteners, navigation, trailering, seating/boat covers, and barbecues/appliances. It also provides apparel, footwear, clothing accessories, fishing, water sports, paddle sports, coolers, bikes, and cabin/galley products. As of February 27, 2014, the company operated 287 stores located in 38 states, Puerto Rico, and Canada. West Marine, Inc. operates stores that serve professional customers, such as businesses involved in boat sales, boat building, boat commissioning and repair, yacht chartering, marina operations, and other boating-related activities, as well as government and industrial customers. It also sells products through direct-to-consumer sales channel, which include westmarine.com and portsupply.com e-commerce websites, direct mail catalogs, and call center. The company was founded in 1968 and is headquartered in Watsonville, California.

1,813 Employees
Last Reported Date: 03/12/14
Founded in 1968

west marine inc (WMAR) Top Compensated Officers

Chief Executive Officer, President and Inside...
Total Annual Compensation: $600.0K
Executive Vice President of Stores and Wholes...
Total Annual Compensation: $286.5K
Executive Officer
Total Annual Compensation: $346.6K
Compensation as of Fiscal Year 2013.

west marine inc (WMAR) Key Developments

West Marine Inc. Appoints Deborah Ajeska as its Principal Financial Officer

On January 16, 2015, the board of West Marine Inc. appointed Deborah Ajeska, West Marine's Divisional Vice President and Controller, as the company's Principal Financial Officer. In this new capacity, Ms. Ajeska will perform Mr. Moran's duties until a new CFO is appointed. Ms. Ajeska, joined the company in May of 1999 as its Director of Financial Planning & Analysis, was promoted to Assistant Vice President of Financial Planning & Analysis in 2007, then to Assistant Vice President-Operations, Controller in 2008 and finally to her current position in late 2010.

West Marine Inc. Provides Earnings Guidance for the Year Ended January 3, 2015; Announces Resignation of Thomas R. Moran as Executive Vice President, Chief Financial Officer and Assistant Secretary

West Marine Inc. provided earnings guidance for the year ended January 3, 2015. For the year, the company expects total revenues approximately $676 million, within the range of previously-issued guidance of $665 million to $680 million. Comparable store sales for the year are expected to be 1.2% versus prior guidance of negative 1.0% to 1.5%. The company anticipates comparable store sales for the fourth quarter to be approximately 8.7%, and both the full year and fourth quarter benefitted from the additional week included in fiscal 2014. EBITDA for fiscal 2014 is now expected to be approximately $22 million to $23 million versus previously-issued guidance of $27.5 million to $30.0 million, and pre-tax profit is expected to be approximately $3.5 million to $4.5 million compared to prior guidance of $8.5 million to $11.0 million. On January 16, 2015, the company's Board of Directors accepted the resignation of Thomas R. Moran from his position as Executive Vice President, Chief Financial Officer and Assistant Secretary. His departure does not result from any disagreement with the company's Board of Directors or management on any matter relating to its operations, policies or accounting practices. Mr. Moran will remain with the company through January 30, 2015 to support an orderly transition.

West Marine Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014; Reaffirms Earnings Guidance for the Full Year of 2014

West Marine Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the thirteen week, the company reported net revenues of $196,510,000 against $193,362,000 a year ago. Income from operations was $9,875,000 $13,502,000 a year ago. Income before income taxes was $9,776,000 against $13,398,000 a year ago. Net income was $4,937,000 against $6,524,000 a year ago. Diluted earnings per share were $0.20 against $0.26 a year ago. Non-GAAP adjusted net income was $5,763,000. Non-GAAP adjusted diluted net income per share was $0.23. EBITDA was $14.6 million compared to $17.2 million for the same period a year ago. Comparable store sales were up 0.6%. The increase was primarily in sales of merchandise expansion products. For the thirty nine week period, the company reported net revenues of $546,331,000 against $544,356,000 a year ago. Comparable store sales decreased by 0.5% for the first nine months of 2014 versus the 2.3% decrease reported for the same period last year. Income from operations was $23,320,000 $34,965,000 a year ago. Income before income taxes was $22,998,000 against $34,638,000 a year ago. Net income was $12,226,000 against $19,037,000 a year ago. Diluted earnings per share were $0.50 against $0.78 a year ago. EBITDA was $36.7 million compared to $46.1 million for the same period a year ago. Net cash provided by operating activities was $38,871,000 against $27,472,000 a year ago. Non-GAAP adjusted net income was $13,052,000. Non-GAAP adjusted diluted net income per share was $0.53. Purchases of property and equipment were $20,832,000 compared to $22,255,000 a year ago. Comparable store sales decreased by 0.5% for the first nine months of 2014 versus the 2.3% decrease reported for the same period last year. The company, reaffirm the earnings guidance for the year 2014. It’s expectation for pre-tax income to be in a range of approximately $8.5 million to $11.0 million. The company expected guidance for EBITDA to be in the range of approximately $27.5 million to $30.0 million. GAAP diluted earnings per share is expected to be in the range of approximately $0.15 to $0.20 due to the establishment of a valuation allowance against Canadian net deferred tax assets during the third quarter of 2014. Anticipate comparable store sales for full-year 2014 to range from down 1.0% to up 1.5%, with total revenues expected to be in the range of $665 million to $680 million. Anticipated capital expenditures for fiscal 2014 to be in the range of $28 million to $32 million. The relatively high effective tax rate this year is due to the placement of a valuation allowance against Canadian net deferred tax assets during the third quarter of 2014 as well as changes in Puerto Rico tax rates.

 

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Industry Analysis

WMAR

Industry Average

Valuation WMAR Industry Range
Price/Earnings 100.0x
Price/Sales 0.4x
Price/Book 1.0x
Price/Cash Flow 282.5x
TEV/Sales 0.3x
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