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Finish Line profit beats consensus by 40.8% in fiscal Q1

Finish Line Inc. said its normalized net income for the fiscal first quarter ended May 31 was 30 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS increased year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $14.3 million, an increase from $5.3 million in the first quarter ended June 1, 2013.

The normalized profit margin rose to 3.5% from 1.5% in the year-earlier period.

Total revenue climbed 15.8% on an annual basis to $406.5 million from $351.1 million, and total operating expenses climbed 12.6% on an annual basis to $386.5 million from $343.4 million.

Reported net income grew on an annual basis to $12.1 million, or 25 cents per share, from $4.9 million, or 10 cents per share.