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 39 Weeks 39 Weeks
Ended Ended Ended Ended
September 27, September 28, September 27, September 28,
1997 1996 1997 1996
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Primary
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Net income $ 4,872 $ 3,116 $ 14,872 $ 11,025
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Weighted average common shares outstanding 16,691 16,356 16,614 15,476
Common equivalent shares:
Stock options 804 1,273 972 1,210
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Weighted average common and
common equivalent shares 17,495 17,629 17,586 16,686
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Net income per common and common equivalent share $ 0.28 $ 0.18 $ 0.85 $ 0.66
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Fully diluted
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Net income $ 4,872 $ 3,116 $ 14,872 $ 11,025
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Weighted average common shares outstanding 16,691 16,356 16,614 15,476
Common equivalent shares:
Stock options 855 1,273 973 1,275
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Weighted average common and
common equivalent shares 17,546 17,629 17,587 16,751
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Net income per common and common equivalent share $ 0.28 $ 0.18 $ 0.85 $ 0.66
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