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Finish Line Stumbles in Q1, but Beats Expectations

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The Finish Line (NASDAQ: FINL  ) probably won't win any medals for completing its fiscal Q1 2014, but at least its results were better than expected. For the quarter, the company posted consolidated net sales of $351 million, up from the $319 million in the same period the previous year. Attributable net profit, on the other hand, fell steeply, landing at $5.1 million ($0.10 per diluted share) against the $12.3 million ($0.24) of Q1 2013.

Much of the drop in bottom line is attributable to start-up costs related to the company's launch of its business in Macy's department stores. Factoring out those expenses results in a GAAP EPS number of $0.20 per share.

That's good enough to beat analyst EPS expectations of $0.16. The average analyst projection for top line, meanwhile, was $343 million.


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Eric Volkman
TMFVolkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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9/1/2015 3:59 PM
FINL $26.00 Down -0.37 -1.40%
The Finish Line, I… CAPS Rating: ***