Rising costs hurt West Marine, Inc. (NASDAQ:WMAR) in the third quarter as profit dropped from a year earlier. West Marine operates as a boating supply retailer in the United States.

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West Marine Earnings Cheat Sheet for the Third Quarter

Results: Net income for the specialty retail company fell to $11,216 (48 cents per share) vs. $7.4 million (32 cents per share) a year earlier. This is a decline of 99.8% from the year earlier quarter.

Revenue: Rose 4.5% to $180.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: WMAR fell short of the mean analyst estimate of 50 cents per share. Analysts were expecting revenue of $182.1 million.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 1.1% to $236 million in the second quarter. The figure rose 3.9% in the first quarter from the year earlier and climbed 3.3% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell short of estimates last quarter after being in line with expecations the quarter before with net income of $1.71.

Looking Forward: Analysts seem more positive about the company’s results for the next quarter than three months ago. The average estimate for the fourth quarter has moved from a loss of 86 cents a share to a loss of 83 cents over the last ninety days. Over the past three months, the average estimate for the fiscal year has climbed from 76 cents per to share to 99 cents.

Competitors to Watch: MarineMax, Inc. (NYSE:HZO), Cabela’s Incorporated (NYSE:CAB), Holiday RV Superstores, Inc. (RVEE), Golfsmith Intl. Hldgs., Inc. (NASDAQ:GOLF), Winmark Corporation (NASDAQ:WINA), Dick’s Sporting Goods, Inc. (NYSE:DKS), Dover Saddlery, Inc. (NASDAQ:DOVR) and Sport Chalet, Inc. (NASDAQ:SPCHA).

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(Source: Xignite Financials)

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