Finish Line Inc (NASDAQ:FINL) stock was down on Thursday despite an earnings beat for its fiscal fourth quarter of 2018.
Finish Line Inc reported earnings per share of 59 cents during its fiscal fourth quarter of the year. This is an increase over its earnings per share of 50 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 57 cents for the quarter.
Revenue of $561.30 million reported by Finish Line Inc for its fiscal fourth quarter didn’t fare as well as its earnings per share. This is down from its revenue of $557.45 million from the fourth quarter of 2017. It also was bad news for FINL stock by coming in below analysts’ revenue estimate of $577.47 million for the period.
Finish Line Inc notes that it was expecting revenue to decline during its fiscal fourth quarter of 2018. However, it says that revenue fell much further than it was expecting. Despite this, the footwear retailer says it was able to control costs and manage inventories in such a way that it was able to meet its earnings per share guidance for the quarter.
Net income reported by Finish Line Inc for its fiscal fourth quarter of the year was $16.34 million. This is better than its net loss of $9.47 million from the same period of the year prior.
Operating income reported by Finish Line Inc came in at $11.41 million for its fiscal fourth quarter of 2018. The retail chain reported operating income of $20.32 million during the same quarter of the previous year.
FINL stock was down 2% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
