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Earnings Review and Free Research Report: Finish Line's Q1 Net Income Met Forecasts

Research Desk Line-up: CSS Industries Post Earnings Coverage

LONDON, UK / ACCESSWIRE / July 7, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Finish Line, Inc. (NASDAQ: FINL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FINL, following the Company's posting of its financial results for the first quarter fiscal 2018 (Q1 FY18) on June 23, 2017. The Indianapolis-based Company's non-GAAP EPS from continuing operations was down on a year-over-year basis; however, it met market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:


Get more of our free earnings reports coverage from other constituents of the Specialty Retail, Other industry. Pro-TD has currently selected CSS Industries, Inc. (NYSE: CSS) for due-diligence and potential coverage as the Company announced on June 07, 2017, its financial results for Q4 FY17 and full year FY17 which ended on March 31, 2017. Register for a free membership today, and be among the early birds that get access to our report on CSS Industries when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FINL, also brushing on CSS. With the links below you can directly download the report of your stock of interest-free of charge at:



Earnings Reviewed

Finish Line reported net sales of $429.77 million in Q1 FY18, which was marginally below $430.04 million recorded in Q1 FY17. Net sales numbers for Q1 FY18 missed market consensus estimates of $431.6 million. During the reported quarter, the Company's comparable store sales decreased 1.1%; meanwhile, the Company's Macy's sales grew13.6% y-o-y.

The premium shoes, apparel and accessories retailer's net income from continuing operations for Q1 FY18 came in at $8.00 million, or $0.20 per diluted share, compared to $10.09 million, or $0.24 per diluted share, in Q1 FY17. The Company's non-GAAP net income from continuing operations for Q1 FY18 stood at $9.53 million, or $0.23 per diluted share, versus $10.09 million, or $0.24 per diluted share, in the year-ago same period. Wall Street had also expected non-GAAP net income of $0.023 per diluted share.

Operating Metrics

For Q1 FY18, the Company's gross profit came in at $127.43 million compared to $133.18 million in the year ago corresponding period. Gross margin as a percentage of net sales stood 29.6% in Q1 FY18 versus 31.0% in the prior year comparable quarter

Finish Line's non-GAAP selling, general, and administrative (SG&A) expenses for Q1 FY18 stood at $112.07 million compared to $117.55 million in Q1 FY17. The Company's non-GAAP SG&A expenses as a percentage of net sales were down to 26.0% in Q1 FY18 from 27.4% in the previous year's same period. During the reported quarter, non-GAAP operating income fell to $15.35 million from $15.63 million in the last year's comparable quarter. Meanwhile, non-GAAP operating margin stood at flat at3.6% in Q1 FY18.

Cash Flow and Balance Sheet

In the three months ended May 27, 2017, Finish Line's net cash provided by operating activities was $9.18 million versus $46.21 million in the first three months of FY17. As on May 27, 2017, the Company had cash and cash equivalents balance of $75.98 million compared to a balance of $85.39 million as on May 28, 2016. Furthermore, merchandise inventories as of May 27, 2017, stood at $341.42 million compared to $324.73 million as on May 28, 2016.

Share Repurchase

During the thirteen weeks ended May 27, 2017, the Company repurchased 250,000 shares of its common stock at an average price of $15.29 per share for an aggregate amount of $3.8 million. Furthermore, the Company is authorized to repurchase another 4.5 million shares under the current share repurchase program.

Earnings Outlook

In its guidance for full year FY18, Finish Line anticipates comparable store sales to increase in the low-single digits range. The Company projects adjusted earnings for FY18 in the range of $1.12 per share and $1.23 per share.

For Q2 FY18, Finish Line expects comparable store sales to decrease in the low-single digits range.

Stock Performance

On Thursday, July 06, 2017, the stock closed the trading session at $14.35, falling 1.78% from its previous closing price of $14.61. A total volume of 1.22 million shares has exchanged hands. Finish Line's stock price advanced 3.31% in the last one month and 2.28% in the previous three months. The stock is trading at a PE ratio of 17.54 and has a dividend yield of 3.07%. The stock currently has a market cap of $588.35 million.

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SOURCE: Pro-Trader Daily