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Finish Line swings to loss in fiscal Q3

Finish Line Inc. said its normalized net income for the fiscal third quarter ended Nov. 29, 2014, was a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of 1 cents per share.

The per-share result swung to a loss from the prior-year profit of 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.9 million, compared with income of $3.1 million in the year-earlier period.

The normalized profit margin dropped to negative 0.5% from 0.8% in the year-earlier period.

Total revenue climbed 8.6% on an annual basis to $395.8 million from $364.5 million, and total operating expenses climbed 10.6% from the prior-year period to $399.0 million from $360.7 million.

Reported net income fell year over year to $2.4 million, or 5 cents per share, from $2.4 million, or 5 cents per share.