West Marine, Inc. (NASDAQ:WMAR) Files An 8-K Results of Operations and Financial Condition

West Marine, Inc. (NASDAQ:WMAR) Files An 8-K Results of Operations and Financial Condition

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Item 2.02.

Results of Operations and Financial
Condition.

On February 23, 2017, West Marine, Inc. issued a press release
announcing its consolidated financial results for the 13-week
period (fourth quarter) ended December 31, 2016 and for the
52-week period ended December 31, 2016. A copy of this press
release is attached hereto as Exhibit 99.1.

In addition to disclosing financial results that are determined
in accordance with accounting principles, generally accepted in
the United States (GAAP), the press release discloses EBITDA,
which is a non-GAAP financial measure, as a supplemental measure
to help investors evaluate our fundamental operational
performance. EBITDA is calculated as net income (loss) plus
interest expense, depreciation and amortization, and income tax
expense. EBITDA is not a presentation made in accordance with
GAAP, is not a measure of financial performance or condition,
liquidity or profitability, and should not be considered as
alternatives to (1) net income, operating income or any other
performance measures determined in accordance with GAAP or (2)
operating cash flows determined in accordance with GAAP.
Additionally, EBITDA is not intended to be a measure of free cash
flow for managements discretionary use, as it does not consider
certain cash requirements such as interest payments, tax
payments, debt service requirements and replacements of fixed
assets. By eliminating interest, income taxes, depreciation and
amortization, we believe the result is a useful measure across
time in evaluating our fundamental core operating performance. We
also believe that EBITDA provides a clearer picture of operating
performance of the business, given the significant investments we
are making in the growth of the business, by eliminating the
effects of depreciation and interest expense.

Our presentation of EBITDA has limitations as an analytical tool,
and should not be considered in isolation or as a substitute for
analysis of our results as reported under GAAP. Because not all
companies use identical calculations, the presentation of EBITDA
may not be comparable to other similarly titled measures of other
companies. Management believes that the presentation of EBITDA is
useful to investors because these measures are frequently used by
securities analysts, investors and other interested parties in
the evaluation of the operating performance of companies in our
industry and industries similar to ours. Management also uses
EBITDA to evaluate our operations. However, as indicated, EBITDA
does not include interest expense on borrowed money, the payment
of income taxes, amortization of our definite-lived intangible
assets, or depreciation expense on our capital assets, which are
necessary elements of our operations. Since EBITDA does not
account for these and other expenses, its utility as a measure of
our operating performance has limitations. Due to these
limitations, management does not view EBITDA in isolation, but
also uses other measurements, such as net income and revenues to
measure operating performance.

Management has reconciled this non-GAAP financial measure to the
most directly comparable GAAP financial measure in the tables
included in the press release furnished as Exhibit 99.1 to this
report. EBITDA should be considered as a supplement to, and not
as a substitute for, or superior to, financial measures
calculated in accordance with GAAP.

The information furnished to Item2.02 and Exhibit 99.1 of this
report shall not be deemed to be filed for purposes of Section18
of the Securities Exchange Act of 1934, as amended (the Exchange
Act), or otherwise subject to the liability of that section,
except if we specifically incorporate it by reference into a
filing under the Securities Act of 1933, as amended, or the
Exchange Act.

Item 9.01. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Not Applicable.
(d) Exhibit:
99.1 Press Release dated February 23, 2017 (furnished to Item
2.02).


About West Marine, Inc. (NASDAQ:WMAR)

West Marine, Inc. is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites. It is a specialty retailer of boating supplies, gear, apparel, footwear and other waterlife-related products. It operates approximately 260 stores located in approximately 40 states, Puerto Rico and Canada. Its products include boating products and merchandise expansion products. Its boating products include maintenance, electronics, sailboat hardware, anchors/docking/moorings, engine systems, boats/outboards, ventilation, navigation, trailering, seating/boat covers and barbecues/appliances. Its merchandise expansion products include clothing accessories, fishing, watersports, paddlesports, coolers and waterlife lifestyle accessories.

West Marine, Inc. (NASDAQ:WMAR) Recent Trading Information

West Marine, Inc. (NASDAQ:WMAR) closed its last trading session down -0.19 at 8.92 with 22,653 shares trading hands.

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