EXHIBIT 11.1
WEST MARINE, INC.
STATEMENT RE: COMPUTATION OF NET INCOME PER SHARE
(in thousands except income per share amounts)
13 Weeks 13 Weeks 26 Weeks 26 Weeks
Ended Ended Ended Ended
June 29, July 1, June 29, July 1,
1996 1995 1996 1995
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PRIMARY
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Net income $ 7,577 $ 5,130 $ 7,910 $ 5,276
Weighted average common shares outstanding 15,196 13,898 15,076 13,196
Common equivalent shares:
Stock options 1,266 684 1,166 664
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Weighted average common and
common equivalent shares 16,462 14,582 16,242 13,860
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Net income per common and common equivalent share $ 0.46 $ 0.35 $ 0.49 $ 0.38
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FULLY DILUTED
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Net income $ 7,577 $ 5,130 $ 7,910 $ 5,276
Weighted average shares outstanding 15,196 13,898 15,076 13,196
Common equivalent shares:
Stock options 1,334 694 1,342 700
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Weighted average common and
common equivalent shares 16,530 14,592 16,418 13,896
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Net income per common and common equivalent share $ 0.46 $ 0.35 $ 0.48 $ 0.38
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