West Marine, Inc. saw a net loss for the first quarter of $11.2 million, or 52 cents per share, compared to a restated net loss of $11.9 million, or 56 cents per share, for the same period last year.

Net sales for the thirteen weeks ended March 31, 2007 were $126.1 million, compared to net sales of $132.6 million for the same period a year ago. West Marine operated 379 stores during the first quarter of 2007, compared to 407 stores during the first quarter of 2006. Comparable store sales decreased 2.1% during the first quarter of 2007.

Peter Harris, West Marine's chief executive officer, stated, “Our first quarter results reflect changes that have been made to improve the business' expense base while we work through a difficult industry climate. The company is delivering on our plans to reduce costs. Also, we are continuing to focus on being ready for the customer and serving them with fresh, exciting new products. As a result, our margins reflect the clearance of end-of-life merchandise taking place earlier in the year than in the past. While making progress, our ability to deliver this year's expected results ultimately depends on the strength of the boating market. We are well-positioned to take care of our customers as we now enter the key part of the season.”

West Marine, Inc.
Condensed Consolidated Statements of Operations
For the 13 Weeks Ended March 31, 2007 and April 1, 2006
(Unaudited and in thousands, except per share amounts)

                                          13 Weeks Ended
                            ------------------------------------------
                                                    As Restated (1)
                               March 31, 2007        April 1, 2006
                            --------------------  --------------------
Net sales                   $   126,052   100.0%  $  132,641    100.0%
Cost of goods sold               99,232    78.7%     101,405     76.5%
                            --------------------  --------------------
    Gross profit                 26,820    21.3%      31,236     23.5%
Selling, general and
 administrative expense          43,836    34.8%      48,130     36.2%
                            --------------------  --------------------
    Loss from operations        (17,016)  -13.5%     (16,894)   -12.7%
Interest expense                  1,423     1.1%       1,859      1.4%
                            --------------------  --------------------
    Loss before income taxes    (18,439)  -14.6%     (18,753)   -14.1%
Benefit from income taxes        (7,194)   -5.7%      (6,827)    -5.1%
                            --------------------  --------------------
     Net loss               $   (11,245)   -8.9%  $  (11,926)    -9.0%
                            ====================  ====================

Net loss per common and
 common equivalent share -
 basic and diluted          $     (0.52)          $    (0.56)


Weighted average common and
 common equivalent shares
 outstanding - basic and
 diluted                         21,596               21,330