RadioShack 1Q Profit Climbs

Consumer electronics chain RadioShack says its first-quarter profit improved as sales perked up on the switch to all-digital television signals.

The Fort Worth, Texas-based company earned $43.1 million for the period ended March 31. That amounts to a profit of 34 cents per share, above the 30 cents per share it earned last year and Wall Street's forecast for earnings per share of 22 cents.

RadioShack Corp. continued to get a sales boost from shoppers buying converter boxes to cope with the all-digital television signals switch this year. Its wireless business also improved, which helped revenue climb 5.6 percent to $1 billion. Analysts expected sales of $937 million.

Same-store sales for company-run stores increased 5 percent.

Copyright AP - Associated Press
Contact Us