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NEW YORK (TheStreet) -- Finish Line (FINL) shares are down 16.1% to $24.25 in early market trading on Friday after the athletic shoes and apparel retailer released its third quarter earnings results before the opening bell today.

The Indianapolis, IN-based company reported third quarter earnings of $2.6 million, or a net loss of 2 cents per share adjusted for one time losses, which fell below analysts' expectations of earnings of 1 cent per share.

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The company generated $395.8 million in revenue during the quarter, beating Wall Street expectations of $387.6 million in revenue.

The company now expects full year non-GAAP earnings to be flat in fiscal year ending February 28.

TheStreet Ratings team rates FINISH LINE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate FINISH LINE INC (FINL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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