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Finish Line swings to profit in Q4


Indianapolis The Finish Line reported Thursday that it moved to a profit in the fourth quarter as it lowered inventory levels and improved sales.

The chain said it earned $30.6 million for the quarter, compared with a loss of $1.4 million a year earlier.

The results beat the average forecast of analysts surveyed by Thomson Reuters.

Revenue grew nearly 9% to $374.5 million.

CEO Glenn Lyon said business improved in nearly every facet as the company's sales and margin improved with tighter controls on inventory and costs.

For the full year, the chain's profit grew to $35.7 million, compared with $3.8 million a year earlier.

Revenue declined nearly 2% for the year to $1.17 billion.

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