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March 28, 2008
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Finance

The Finish Line Reports $38.8M Q4 Loss After Failed Merger

 
Indianapolis-based The Finish Line, which recently pulled out of a merger with rival Genesco, Thursday reported that the "escape cost [the company] $81.5[M] and led" to a Q4 loss of $38.8M, or $0.82 per share, according to Erika Smith of the INDIANAPOLIS STAR. Finish Line in the year-ago period had a net income of $21.1M, or $0.44 per share. For the year, Finish Line reported a loss of $60.4M, compared with an income of $32.4M in the previous year, and revenue fell 10% to $382.8M from $425.7M. Analysts had "expected $387.8[M]." Finish Line CFO Kevin Wampler said that "now that the 'distraction of the merger' is over, Finish Line can get back to improving sales at its stores." Wampler: "After the settlement, the good news is we'll have over $50[M] of cash in the bank and nothing stopping us" (INDIANAPOLIS STAR, 3/28).

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Finish Line Reports Third-Quarter Loss
January 4, 2008 : SportsBusiness Daily

Finish Line Posts $1.8M Q2 Losses
September 28, 2007 : SportsBusiness Daily

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