Before the opening bell on Friday morning, Finish Line Inc. (FINL
) reported its second quarter earnings, posting higher revenues and flat earnings compared to last year’s Q2 results.
FINL’s Earnings in Brief
Finish Line reported second quarter revenues of $466.88 million, up from last year’s Q2 revenues of $436.03 million. Net income for the quarter came in at $26.16 million, or 54 cents per diluted share, which is essentially flat with last year’s Q2 figures of $26.5 million, or 54 cents per share. FINL’s Q2 results missed analysts’ estimates of 60 cents EPS on revenues of $477.61 million. For FY2015, Finish Line expects comparable store sales to be up mid single digits and earnings per share to increase in the high single to low double digit range.CEO Commentary
FINL chairman and CEO Glenn Lyon had the following comments: "Our second quarter results fell short of our expectations due to softness within elements of our basketball offering while our running business was up mid single digits driven by casual and performance styles. We are confident that we can reaccelerate sales trends in basketball by working closely with our brand partners to improve our assortments. In combination with our market leadership position in running, advanced omnichannel capabilities and growing business relationship with Macy's, this will fuel sustainable sales and earnings growth over the long-term."
FINL’s Dividend
Finish Line most recently paid a dividend on September 15. We expect the company to declare its next quarterly dividend of 8 cents in the coming month.
Stock Performance
FINL stock was down $2.41, or 8.19%, in pre-market trading. YTD, the stock is up 4.48%.
FINL Dividend SnapshotAs of Market Close on September 25, 2014
Click here to see the complete history of FINL dividends.
