finish line/the - cl a (TF3A) Snapshot

The Finish Line Inc. announced the Under Armour Spine Lazer is now available exclusively in select Finish Line stores and online at www.finishline.com, in addition to ua.com. The UA Spine(TM) Lazer, a successor of the UA Spine Venom launched this spring, is being introduced into the marketplace through a communications approach leveraging Finish Line's omni-channel platform. The UA Spine Lazer retails for $89.99 in seven colorways. A high-density but flexible foam "cage" is cored out to remove all unnecessary weight while delivering total support and maximum traction. A thin, light, super-responsive layer of Micro G(R) foam is fused inside the shoe's chassis for great feel and comfort. Laser-cut foam and breathable mesh combine to fit the foot perfectly and keep it cool. Men's, women's and kids' size ranges are available. Finish Line's promotional approach includes an online landing page featuring interactive graphics demonstrating the UA Spine Lazer technology. Additional features include interviews with Under Armour celebrity trainers as well as a one-on-one with the chief product designer to shed light on the inspiration behind the concept.

The Finish Line Inc. announced that its board of directors has declared a quarterly cash dividend of $0.07 per share of outstanding common stock. The quarterly cash dividend will be payable June 17, 2013 to shareholders of record as of May 31, 2013.

Finish Line Inc. reported unaudited consolidated earnings results for the fourth quarter and fiscal year ended March 2, 2013. For the quarter, the company reported net sales of $442,682,000 against $456,260,000 a year ago. Operating income was $54,723,000 against $66,512,000 a year ago. Income before income taxes was $54,754,000 against $66,569,000 a year ago. Net income attributable to the company was $34,329,000 or $0.69 per diluted share against $41,920,000 or $0.80 per diluted share a year ago. Operating income, non-GAAP was $60,289,000 against $67,486,000 a year ago. Net income attributable to the company, non-GAAP was $37,719,000 or $0.76 per diluted share against $42,523,000 or $0.81 per diluted share a year ago. Comparable store sales increased 0.7%. Capital expenditures were $29.2 million. For the year, the company reported net sales of $1,443,365,000 against $1,369,259,000 a year ago. Operating income was $112,297,000 against $134,335,000 a year ago. Income before income taxes was $112,495,000 against $134,782,000 a year ago. Net income attributable to the company was $71,473,000 or $1.40 per diluted share against $84,804,000 or $1.59 per diluted share a year ago. Operating income, non-GAAP was $117,890,000 against $135,309,000 a year ago. Net income attributable to the company, non-GAAP was $74,879,000 or $1.47 per diluted share against $85,407,000 or $1.60 per diluted share a year ago. Comparable store sales increased 5.9%. As of March 2, 2013, the company had no interest-bearing debt. Capital expenditures were $91.3 million. For the year, the company generated approximately $80 million in cash from operations, which funded the CapEx requirements. For the quarter, the company reported impairment charges of $5,566,000 against $974,000 a year ago. For the fiscal year ending March 1, 2014, the company currently expects comparable store sales to be up slightly and earnings per share to increase mid-single digit percent over fiscal year 2013 non-GAAP diluted earnings per share of $1.47. The company anticipates that the effective tax rate will be approximately 38.5%. The company is planning the capital expenditures to be in the range of $80 million to $90 million, which includes an estimated $18 million in capital outlay associated with building out shops in Macy's. Breaking down the more significant area of CapEx further: $23 million to $27 million will be dedicated to Finish Line stores, primarily new store openings and store repositions, as well as some maintenance remodel capital; $20 million to $25 million in technology investments to support the multi-year core systems upgrade the company embarked on beginning last year; $4 million to $5 million in technology to support growth in the digital business; and finally, $6 million to $8 million to support The Running Company new store growth, which excludes acquisition capital. Depreciation and amortization for the year is expected to be between $36 million and $38 million.