Attached files
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| EX-99.1 - WEST MARINE INC | v177494_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event
reported): March 16,
2010
West
Marine, Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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0-22512
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77-0355502
|
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(State
or other
jurisdiction
of
incorporation)
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(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
500
Westridge Drive
Watsonville,
California 95076
(Address
of Principal Executive Offices, Including Zip Code)
(831)
728-2700
(Registrant’s
Telephone Number, Including Area Code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.02.
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Results
of Operations and Financial
Condition.
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On March
16, 2010, West Marine, Inc. (the “Company”) issued a press release announcing
its consolidated financial results for the 13-week period (fourth quarter) ended
January 2, 2010 and for the 52-week period ended January 2, 2010. A copy of this
press release is attached hereto as Exhibit 99.1.
The press
release contains disclosure of adjusted net revenues and adjusted comparable
store sales for the 2008 fourth quarter and fiscal year. Adjusted net revenues
and adjusted comparable store sales are not measures of financial performance
calculated in accordance with accounting principles generally accepted in the
United States (“GAAP”). The press release contains tabular reconciliations of
net revenues and comparable store sales for 2008 to the foregoing non-GAAP
measures for comparison purposes. Specifically, the first week in
fiscal fourth quarter 2008 was removed to create a 13-week period ended January
3, 2009. Additionally, the first week in fiscal 2008 was removed to create a
52-week period ended January 3, 2009. Management believes that these non-GAAP
measures are useful to investors because they provide a more direct and
meaningful comparison of year-over-year revenues. Adjusted net revenues and
adjusted comparable store sales should not be considered as an alternative to
net revenues and comparable store sales as an indicator of the Company’s
financial performance. These non-GAAP financial measures may not be comparable
to similarly titled measures used by other companies.
The
information required to be furnished pursuant to Item 2.02 and Exhibit 99.1
of this report shall not be deemed to be “filed” for purposes of Section 18
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.
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Item 9.01.
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Financial
Statements and Exhibits.
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(a) Not
Applicable.
(b) Not
Applicable.
(c) Not
Applicable.
(d) Exhibit:
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|
99.1
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Press
Release dated March 16, 2010 (furnished pursuant to Item
2.02).
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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WEST
MARINE, INC.
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Date: March
16, 2010
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By:
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/s/ Thomas R. Moran
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Thomas
R. Moran
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Senior
Vice President and
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Chief
Financial
Officer
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