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SBD/Issue 73/FinancePrint All
Indianapolis-based Finish Line Inc. posted Q3 earnings of $2.33M, up from $2.15M in the year-ago period, according to Madhusmita Bora of the INDIANAPOLIS STAR, who notes the $0.05 per share profit missed Wall Street’s $0.06 estimate. Net sales increased 16% to $235.3M from $202M in the same period last year. The earnings report includes the $1.2M that Finish Line received from a tornado insurance settlement last year. If the insurance adjustment is excluded, the company “shows a same-store earnings gain” of 67% for Q3. Hilliard Lyons analyst Jim Lykins attributed the strong Q3 earnings to Finish Line’s footwear and “exclusivity with Nike products.” In addition, comparable-store sales for the five-week holiday period ending January 1 also increased 9% (INDIANAPOLIS STAR, 1/5).