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Finish Line Reports Better-Than-Expected Q2 Results, Reiterates Full-Year Outlook

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Finish Line Inc. (NASDAQ: FINL) reported on Friday that fiscal second quarter profit rose, aided by improved same-store-sales, offsetting weaker margin. Shares rallied in regular trading hours on Friday as earnings and revenue topped analysts’ estimations. Besides, the Company also backed its full-year projections.

For the latest period, Finish Line posted a net income of $26.51 million up or 54 cents a share from $24.97 million or 49 cents a share, in the same period of last year.

Analysts polled by Thomson Reuters had forecasted earnings of 45 cents a share.

Net sales for the latest quarter climbed 13.3% to $463.03 million from $385.01 million, in the year-earlier quarter.  Analysts’ consensus estimate was for revenue of $426.39 million. Comparable-store-sales rose 0.9% in the fiscal second quarter.

Gross profit rose to $146.34 million from $134.55 million, in the same period of last year. Operating income rose to $42.87 million from $39.51 million, in the year earlier quarter.

Gross profit as percentage of sales edged down to 33.6% from 35%, in the same period of last fiscal year while operating income as a percentage of sales slipped to 9.8% from 10.3%.

For the fiscal year ending March 31, the Company reiterated its outlook on earnings per share, which is expected to increase by mid-single digit percentage from the fiscal year 2013. The Company earned $1.47 (non-GAAP) in fiscal 2013. Analysts’ consensus estimate for the current fiscal year was of $1.57 a share.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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