UPDATE: Finish Line Posts FQ3 Loss, Cuts Full-Year Earnings Forecast

Finish Line FINL posted a loss in the fiscal third-quarter. Finish Line cut its full-year earnings forecast to $1.47 to $1.51 per share, versus its earlier forecast of $1.62 to $1.67 per share. It expects FQ4 earnings of $0.74 to $0.78 per share, versus analysts' estimates of $0.82 per share. Finish Line posted a quarterly loss of $107,000, or breakeven on a per share basis, versus a year-ago profit of $5.55 million, or $0.11 per share. Its sales rose 5.2% to $296.6 million. However, analysts were expecting earnings of $0.10 per share on revenue of $296 million. Its same-store sales rose 3.6%, while gross margin declined to 30.3% from 32.3%. Finish Line shares dropped 6.99% to $17.70 in pre-market trading.