Alan H. Cohen, Chief Executive Officer of nation's leading athletic specialty retailers Finish Line Inc announced earnings for the second quarter representing the thirteen weeks ended August 27, 2005.
SECOND QUARTER RESULTS:
Net income for the thirteen weeks ended August 27, 2005 (the "second quarter" or "Q2") was $18.9 million ($.38 per diluted share) a decrease of 8 percent versus net income of $20.5 million ($.42 per diluted share) for the thirteen weeks last year ended August 28, 2004 ("Q2 LY"). Diluted weighted average shares outstanding were 49,854,000 for Q2 versus 49,226,000 shares outstanding for Q2 LY.
Net sales increased 9 percent (nine percent) to $341.6 million for Q2 compared to $312.2 million reported for Q2 LY. Comparable store net sales decreased 2 percent (negative two percent) for Q2 as compared to the 6 percent (six percent) increase reported for Q2 LY.
YEAR-TO-DATE RESULTS:
Net income for the twenty-six weeks ended August 27, 2005 ("YTD") was $31.6 million ($.63 per diluted share) an increase of 3 percent versus net income of $30.8 million ($.63 per diluted share) for the twenty-six weeks last year ended August 28, 2004 ("YTD LY"). Diluted weighted average shares outstanding were 49,878,000 for YTD versus 49,273,000 shares outstanding for YTD LY.
Net sales increased 11 percent (eleven percent) to $632.8 million for YTD compared to $570.1 million for YTD LY. Comparable store net sales were flat (zero percent) forYTD versus a 10 percent (ten percent) increase reported for YTD LY.
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