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.