Finish Line Reports Third Quarter Fiscal Year 2013 Results

All of these forward-looking statements are subject to risks, management assumptions and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The principal risk factors that could cause actual performance and future actions to differ materially from the forward-looking statements include, but are not limited to, the company’s reliance on a few key vendors for a majority of its merchandise purchases (including a significant portion from one key vendor); the availability and timely receipt of products; the ability to timely fulfill and ship products to customers; fluctuations in oil prices causing changes in gasoline and energy prices, resulting in changes in consumer spending as well as increases in utility, freight and product costs; product demand and market acceptance risks; deterioration of macro-economic and business conditions; the inability to locate and obtain or retain acceptable lease terms for the company’s stores; the effect of competitive products and pricing; loss of key employees; execution of strategic growth initiatives (including actual and potential mergers and acquisitions and other components of the company’s capital allocation strategy); and the other risks detailed in the company’s Securities and Exchange Commission filings. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The forward-looking statements included herein are made only as of the date of this report and Finish Line undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

		The Finish Line, Inc.
		Consolidated Statements of Operations (Unaudited)
		(In thousands, except per share and store data)
		ThirteenWeeks Ended					ThirteenWeeks Ended					Thirty-NineWeeks Ended					Thirty-NineWeeks Ended
		December 1,					November 26,					December 1,					November 26,
		2012					2011					2012					2011
Net sales		$	296,623				$	282,011				$	1,000,683				$	912,999
Cost of sales (including occupancy costs)			206,833					191,002					671,684					602,393
Gross profit			89,790					91,009					328,999					310,606
Selling, general and administrative expenses			91,447					83,067					271,004					241,818
Store closing costs			1					368					421					965
Operating (loss) income			(1,658	)				7,574					57,574					67,823
Interest income, net			38					109					167					390
(Loss) Income before income taxes			(1,620	)				7,683					57,741					68,213
Income tax (benefit) expense			(811	)				2,135					22,033					25,329
Net (loss) income			(809	)				5,548					35,708					42,884
Net loss attributable to redeemable noncontrolling interest			702					-					1,436					-
Net (loss) income attributable to The Finish Line, Inc.		$	(107	)			$	5,548				$	37,144				$	42,884
Diluted earnings per share attributable to The Finish Line, Inc. shareholders		$	-				$	0.11				$	0.72				$	0.80
Diluted weighted average shares			49,949					52,082					50,977					53,076
Dividends declared per share		$	0.06				$	0.05				$	0.18				$	0.15
Finish Line store activity for the period:
Beginning of period			638					647					637					664
Opened			14					4					27					4
Closed			(1	)				(3	)				(13	)				(20	)
End of period			651					648					651					648
Square feet at end of period													3,531,426					3,491,396
Average square feet per store													5,425					5,388
Running Company store activity for the period:
Beginning of period			19					-					19					-
Acquired			5					18					5					18
Opened			1					1					1					1
Closed			-					-					-					-
End of period			25					19					25					19
Square feet at end of period													78,120					57,302
Average square feet per store													3,125					3,016
		Thirteen Weeks Ended										Thirty-Nine Weeks Ended
		December 1,					November 26,					December 1,					November 26,
		2012					2011					2012					2011
Net sales			100.0		%			100.0		%			100.0		%			100.0		%
Cost of sales (including occupancy costs)			69.7					67.7					67.1					66.0
Gross profit			30.3					32.3					32.9					34.0
Selling, general and administrative expenses			30.8					29.5					27.1					26.5
Store closing costs			-					0.1					-					0.1
Operating (loss) income			(0.5	)				2.7					5.8					7.4
Interest income, net			-					-					-					0.1
(Loss) income before income taxes			(0.5	)				2.7					5.8					7.5
Income tax (benefit) expense			(0.3	)				0.7					2.2					2.8
Net (loss) income			(0.2	)				2.0					3.6					4.7
Net loss attributable to redeemable noncontrolling interest			0.2					-					0.1					-
Net (loss) income attributable to The Finish Line, Inc.			-		%			2.0		%			3.7		%			4.7		%

			Condensed Consolidated Balance Sheets
			December 1,			November 26,			March 3,
			2012			2011			2012
			(Unaudited)			(Unaudited)
ASSETS
Cash and cash equivalents			$	168,154		$	216,570		$	307,494
Merchandise inventories, net				301,654			280,409			220,405
Other current assets				30,904			21,366			24,849
Property and equipment, net				167,970			128,343			126,997
Other assets				41,103			37,737			31,751
Total assets			$	709,785		$	684,425		$	711,496
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities			$	145,609		$	147,983		$	138,683
Deferred credits from landlords				28,139			30,035			27,737
Other long-term liabilities				18,462			15,335			15,539
Redeemable noncontrolling interest				4,535			-			-
Shareholders' equity				513,040			491,072			529,537
Total liabilities and shareholders' equity			$	709,785		$	684,425		$	711,496

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