8-K

____________________________________________________________________________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________________________________________________

FORM 8-K

____________________________________________________________________________

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): March 29, 2007

___________________________________________________________________________

The Finish Line, Inc.

(Exact Name of Registrant as Specified in Charter)

__________________________________________________________________________

Indiana	0-20184	35-1537210
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3308 North Mitthoeffer Road, Indianapolis, Indiana	46235
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (317) 899-1022

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

1

ITEM 2.02. Results of Operations and Financial Condition

On March 29, 2007, The Finish Line, Inc. (the “Company”) issued a press release discussing its results of operations and financial condition as of and for the fourteen and fifty-three weeks ended March 3, 2007.

A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in this Current Report, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

2

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

Exhibit No.	Description
99.1	Press Release issued March 29, 2007

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 30, 2007	The Finish Line, Inc.
	By:	/s/ Kevin S. Wampler
		Kevin S. Wampler
		Executive Vice President-Chief Financial Officer and Assistant Secretary

4

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release issued March 29, 2007

5

EX-99.1

Exhibit 99.1

FINISH LINE REPORTS FOURTH QUARTER AND FISCAL YEAR EARNINGS

INDIANAPOLIS— March 29, 2007—The Finish Line, Inc. (NASDAQ:FINL) announced results for the fourth quarter and fiscal year ended March 3, 2007.

FOURTH QUARTER RESULTS:

Net income for the fourteen weeks ended March 3, 2007 (the “fourth quarter” or “Q4”) was $21.1 million ($.44 per diluted share) versus net income of $28.1 million ($.58 per diluted share) for the thirteen weeks ended February 25, 2006 (“Q4 LY”). Included in Q4 is a pre-tax charge of $7.5 million ($.10 per diluted share) for the asset impairment of 19 underperforming stores. Additionally, the Company estimates that the Q4 results benefited from the additional week by $.08 per diluted share. Diluted weighted average shares outstanding were 47,557,000 for Q4 versus 48,704,000 shares outstanding for Q4 LY.

Consolidated net sales increased 7.5% to $429.0 million for Q4 compared to $399.2 million reported for Q4 LY. Excluding the fourteenth week this year (approximately $24.2 million of sales), sales increased 1.4% from the same thirteen-week period last year. Comparable store net sales decreased 5.4% for Q4 as compared to the 0.4% comparable store sales gain reported for Q4 LY.

FULL YEAR RESULTS:

Net income for the fifty-three week year ended March 3, 2007 (“Fiscal 2007”) was $32.4 million ($.68 per diluted share) as compared to net income of $60.5 million ($1.23 per diluted share) for the fifty-two week year ended February 25, 2006 (“Fiscal 2006”). Diluted weighted average shares outstanding were 47,801,000 for Fiscal 2007 versus 49,381,000 shares outstanding for Fiscal 2006.

Consolidated net sales increased 2.5% to $1.34 billion for Fiscal 2007 compared to $1.31 billion for Fiscal 2006. Excluding the fifty-third week in Fiscal 2007, consolidated net sales increased 0.6% from the same fifty-two week period in Fiscal 2006. Comparable store net sales decreased 5.7% for Fiscal 2007 as compared to the 0.7% increase reported for Fiscal 2006.

Total merchandise inventories on a consolidated basis were $287.3 million at March 3, 2007 compared to $268.6 million at February 25, 2006. On a per square foot basis, Finish Line store merchandise inventories were flat compared to one year ago.

Mr. Alan H. Cohen, Chairman and CEO, stated, “During Fiscal 2007, we worked diligently to balance our product assortment in response to consumer demand for both performance and sport style products. We believe that Finish Line is taking the necessary steps to position the Company for improved performance in fiscal 2008. While we expect the short-term environment for specialty athletic retailing to be challenging we remain confident in the long-term growth of the business. ”

CONFERENCE CALL:

The Company is hosting a live conference call at 8:30 am (ET) on Friday, March 30th. Interested parties may participate in the call by calling 1-706-634-5566 (Conference ID# is 9927609). Those interested in listening to the call on the web can do so at www.finishline.com.

Interested parties may access a replay of the live conference call by calling 1-706-645-9291 (Conference ID# 9927609). This replay will be available commencing at approximately 9:45 am ET on Friday, March 30th and will remain available through April 3rd. In addition, the replay will be available on the web at www.finishline.com.

The Company has experienced, and expects to continue to experience, significant variability in net sales and comparable store net sales from quarter to quarter. Therefore, the results of the periods presented herein are not necessarily indicative of the results to be expected for any other future period or year.

Certain statements contained in this press release regard matters that are not historical facts and are forward looking statements (as such term is defined in the rules promulgated pursuant to the Securities Act of 1933, as amended). Because such forward looking statements contain risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward looking statements. Factors that could cause actual results to differ materially include, but are not limited to: changing consumer preferences; the Company’s inability to successfully market its footwear, apparel, accessories and other merchandise; price, product and other competition from other retailers (including internet and direct manufacturer sales); the unavailability of products; the inability to locate and obtain favorable lease terms for the Company’s stores; the loss of key employees, general economic conditions and adverse factors impacting the retail athletic industry; management of growth, and the other risks detailed in the Company’s Securities and Exchange Commission filings. The Company undertakes no obligation to release publicly the results of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

The Finish Line, Inc. is one of the largest mall-based specialty retailers operating under the Finish Line, Man Alive and Paiva brand names. The Finish Line, Inc. is publicly traded on the NASDAQ Global Select Market under the symbol FINL. The Company currently operates 691 Finish Line stores in 47 states and online, 86 Man Alive stores in 18 states and 15 Paiva stores in 10 states and online. To learn more about these brands, visit www.finishline.com, www.manalive.com and www.paiva.com.

The Finish Line, Inc. Consolidated Statements of Income (In thousands, except per share and store data)
	Fourteen		Thirteen		Fifty-three		Fifty-two
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	March 3,		February 25,		March 3,		February 25,
	2007		2006		2007		2006
	(Unaudited)		(Unaudited)		(Unaudited)
Net sales	$	429,019	$	399,225	$	1,338,207	$	1,306,045
Cost of sales (including occupancy costs)		293,759		267,250		937,337		894,724
Gross profit		135,260		131,975		400,870		411,321
Selling, general, and administrative expenses		93,906		85,099		342,160		313,893
Asset impairment charge		7,531		2,523		7,531		2,523
Operating income		33,823		44,353		51,179		94,905
Interest income - net		157		602		1,021		2,008
Income before income taxes		33,980		44,955		52,200		96,913
Income taxes		12,913		16,895		19,836		36,380
Net income	$	21,067	$	28,060	$	32,364	$	60,533
Diluted weighted average shares outstanding		47,557		48,704		47,801		49,381
Diluted earnings per share	$	0.44	$	0.58	$	0.68	$	1.23
Dividends declared per share	$	0.025	$	0.025	$	0.100	$	0.100
Number of stores open at end of period:
Finish Line						690		657
Man Alive						86		51
Paiva						13		-
Total						789		708
Condensed Consolidated Balance Sheets
				March 3,		February 25,
ASSETS				2007		2006
				(Unaudited)
Cash, cash equivalents and marketable securities			$	62,864	$	96,563
Merchandise inventories, net				287,300		268,590
Other current assets				30,212		16,374
Property and equipment, net				247,468		221,182
Other assets				28,792		25,107
Total assets			$	656,636	$	627,816
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities			$	142,886	$	142,415
Deferred credits from landlords				64,472		56,859
Shareholders' equity				449,278		428,542
Total liabilities and shareholders' equity			$	656,636	$	627,816

CONTACT:

The Finish Line, Inc., Indianapolis

Kevin S. Wampler, 317/899-1022 ext 6914

Executive Vice President - Chief Financial Officer

Media Requests Contact:

Elise Hasbrook, 317/899-1022 ext 6827

Corporate Communications Manager