Finish Line Q1 Adj. EPS Tops View; Backs FY Outlook

(RTTNews) - Athletic gear retailer Finish Line, Inc. (FINL) posted first-quarter net income attributable to the company of $13.8 million, up from $12.4 million in the comparable quarter last year. Earnings per share attributable to company shareholders were $0.30, compared to $0.25 in the prior year.

On a non-GAAP basis, earnings which excludes the impact of impairment charges and store closing costs were $0.30 per share, up from $0.28 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales for the latest first quarter increased by 9.1% to $443.39 million from $406.53 million in the year-ago period, while 17 analysts expected sales of $429.83 million for the period. Finish Line comparable-store sales increased by 5.5%.

For the fiscal year ending February 27, 2016, Finish Line still expects earnings per share to increase in the low single to mid single digit range over fiscal year 2015 non-GAAP earnings per share of $1.67 and comparable store sales to be up in the low single to mid single digit range. Analysts expect earnings of $1.76 per share.