West Marine Inc. will setback issuing its fourth-quarter results as it works through final audit items with its new accounting firm. The report was due last week. West Marine Inc. trades on the “NASDAQ” under the stock symbol “WMAR”. For the Latest information regarding “WMAR”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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West Marine Inc., which sells boating supplies, said Thursday it will setback issuing its fourth-quarter results as it works through final audit items with its new accounting firm. The report was due last week. The company said it would report results "as soon as practicable" after it completes its audit. CEO Geoff Eisenberg said even though the company is still completing its audit, the year's results exceeded expectations.
West Marine shares rose 10 cents to $10.89 in midday trading.
About West Marine Inc:
West Marine, Inc., together with its subsidiaries, operates as a boating supplies retailer in the United States. The company operates through three segments: Stores, Port Supply, and Direct Sales. The Stores segment operates stores that offer hardware and supplies needed for day-to-day boat maintenance and repairs. As of December 31, 2008, this segment had 344 stores in 38 states, Puerto Rico, and Canada. The Port Supply segment distributes marine supplies to domestic and international wholesale customers, including businesses involved in boat sales, boat building, boat commissioning and repair, yacht chartering, marina operations, and boating-related activities. It also serves government and industrial customers who use the company’s products for non-boating purposes. The Direct Sales segment operates as an e-commerce Website and virtual call center, which provides customers with access to a range of products, product advisor tips and technical information, and product videos and customer-submitted product reviews. The company was founded in 1976 and is based in Watsonville, California.
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