The Finish Line, Inc. (FINL) has reported a 5.07 percent fall in profit for the quarter ended Feb. 28, 2015. The company has earned $40.82 million, or $0.87 a share in the quarter, compared with $43 million, or $0.87 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $41.29 million, or $0.88 a share compared with $43 million or $0.87 a share, a year ago.

Revenue during the quarter grew 6.26 percent to $551.35 million from $518.87 million in the previous year period. Gross margin for the quarter contracted 179 basis points over the previous year period to 34.11 percent. Total expenses were 88.48 percent of quarterly revenues, up from 87.08 percent for the same period last year. That has resulted in a contraction of 140 basis points in operating margin to 11.52 percent.

Operating income for the quarter was $63.53 million, compared with $67.04 million in the previous year period.

However, the adjusted operating income for the quarter stood at $64.30 million compared to $68.60 million in the prior year period. At the same time, adjusted operating margin contracted 156 basis points in the quarter to 11.66 percent from 13.22 percent in the last year period.

"Our fourth quarter results, especially for our core business, represent a solid finish to a disappointing year," said Glenn Lyon, chairman and chief executive officer of Finish Line. "We quickly reduced expenses and gained better leverage to deliver earnings ahead of plan. At the same time, we made progress rebalancing our inventory to better align with customer demand. While there is still work to be done to achieve operational excellence throughout the Company, we have a sound plan in place to improve profitability and continue our long track record of returning increased value to our shareholders."