RadioShack's third-quarter profits down, but sales better than expected

Posted Monday, Oct. 26, 2009 RadioShack’s third-quarter profits were down 24 percent from the same period in 2008, but better-than-expected sales and an encouraging outlook helped drive up its share price 16 percent. The Fort Worth-based retailer earned $37.4 million, or 30 cents a share, down from $49.1 million, or 38 cents per share a year earlier. Revenues were $990 million. According to a survey of financial analysts by Thomson Reuters, Wall Street’s consensus expectation was for 31 cents a share in profit on $962 million in revenue. Sales at stores open at least a year were down less than 1 percent, also outperforming analysts’ estimates. Analysts had said this year that while the company was benefitting from the sale of high-definition television digital converter boxes, job cuts and other cost savings, those benefits... [read full story]                    

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