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 28, JUNE 29, JUNE 28, JUNE 29,
1997 1996 1997 1996
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Primary
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Net income $ 11,158 $ 7,577 $ 10,000 $ 7,910
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Weighted average common shares outstanding 16,622 15,196 16,575 15,076
Common equivalent shares:
Stock options 1,169 1,266 1,055 1,166
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Weighted average common and
common equivalent shares 17,791 16,462 17,630 16,242
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Net income per common and common
equivalent share $ 0.63 $ 0.46 $ 0.57 $ 0.49
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Fully diluted
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Net income $ 11,158 $ 7,577 $ 10,000 $ 7,910
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Weighted average shares outstanding 16,622 15,196 16,575 15,076
Common equivalent shares:
Stock options 1,169 1,334 1,055 1,342
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Weighted average common and
common equivalent shares 17,791 16,530 17,630 16,418
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Net income per common and common
equivalent share $ 0.63 $ 0.46 $ 0.57 $ 0.48
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