Last $9.82 USD
Change Today -0.03 / -0.30%
Volume 30.4K
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As of 8:10 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

west marine inc (WMAR) Key Developments

West Marine Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2014; Revises Earnings Guidance for 2014

West Marine Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 28, 2014. For the quarter, the company reported net revenues of $236,483,000 against $236,750,000 a year ago. Income from operations was $32,563,000 against $37,651,000 a year ago. Income before income taxes was $32,448,000 against $37,537,000 a year ago. Net income was $18,304,000 against $22,242,000 a year ago. Diluted net income per common and common equivalent share was $0.75 against $0.90 a year ago. EBITDA was $37.2 million against $41.4 million a year ago. For the six months, the company reported net revenues of $349,821,000 against $350,994,000 a year ago. Income from operations was $13,445,000 against $21,463,000 a year ago. Income before income taxes was $13,222,000 against $21,240,000 a year ago. Net income was $7,289,000 against $12,513,000 a year ago. Diluted net income per common and common equivalent share was $0.30 against $0.51 a year ago. EBITDA was $22.1 million against $28.9 million a year ago. Net cash provided by operating activities was $9,413,000 against net cash used in operating activities of $4,067,000 a year ago. Purchases of property and equipment were $16,032,000 against $15,133,000 a year ago. The company is lowering 2014 full-year guidance, with pre-tax income now expected to be in the range of $8.5 million to $11.0 million, approximately $7.0 million lower than previously-communicated pre-tax income guidance. This will result in diluted earnings per share of approximately $0.19 to $0.25. Comparable store sales for full-year 2014 are now anticipated to range from down 1.0% to up 1.5%, with total revenues now expected to be in the range of $665 million to $680 million. The company estimates EBITDA to be in the range of $27.5 million to $30.0 million. The company anticipates capital expenditures for fiscal 2014 to be in the range of $28 million to $32 million. The company expects GAAP net income to be in the range of $4.7 million against $6.0 million a year ago.

Ronald Japinga to Resign as Executive Vice President – Merchandising, Replenishment and Logistics of West Marine Inc., Effective July 11, 2014

West Marine Inc. announced that Ronald Japinga's decision to resign his position as Executive Vice President – Merchandising, Replenishment and Logistics, to pursue other interests. His last date of employment will be July 11, 2014.

West Marine Inc. Ratifies the Selection of PricewaterhouseCoopers LLP as Independent Auditors for the Fiscal Year Ending January 3, 2015

On May 15, 2014, West Marine Inc. held its 2014 annual meeting of stockholders, at its meeting the shareholders ratified the Selection of PricewaterhouseCoopers LLP, independent registered public accounting firm, as the company's independent auditors for the fiscal year ending January 3, 2015.

West Marine Inc. to Report Q2, 2014 Results on Jul 24, 2014

West Marine Inc. announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Jul 24, 2014

West Marine Inc., Q2 2014 Earnings Call, Jul 24, 2014

West Marine Inc., Q2 2014 Earnings Call, Jul 24, 2014

 

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WMAR

Industry Average

Valuation WMAR Industry Range
Price/Earnings 92.6x
Price/Sales 0.4x
Price/Book 0.8x
Price/Cash Flow 91.6x
TEV/Sales 0.3x
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