Finish Line Posts Profit In Q3; Ups Annual Outlook - Quick Facts

(RTTNews) - Finish Line Inc. (FINL), a retailer of athletic shoes, apparel and accessories, posted third-quarter net income attributable to the company of $2.32 million, versus a loss of $0.11 million, a year before. Quarterly earnings per share were $0.05 in the recent quarter.

On a non-GAAP basis, earnings per share, excluding the impact of impairment charges, amounted to $0.06. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.01 for the quarter. Analysts' estimates typically exclude one-time items.

Consolidated net sales for the 13 weeks reached $364.5 million, up 22.9%, compared with $296.62 million in the prior-year period, while 13 analysts estimated revenues of $354.57 million. Finish Line comparable-store sales improved by 7.1%.

For the fiscal year ending March 1, 2014, the company now sees comparable-store sales to grow about 3% - 4%, compared with its prior expectation for a low single digit increase. Non-GAAP earnings per share are currently estimated to increase 9% - 12% to $1.60 - $1.65. This compares to its previous expectation for a mid-single digit increase.