Updated from 7:32 a.m.
posted fourth-quarter earnings that fell 2 cents short of Wall Street's expectations, even as sales for the quarter grew by 14%.
The Fort Worth, Texas-based consumer electronics retailer said excluding restricted stock charges, it earned $145.8 million, or 74 cents a share, compared with $129.6 million, or 63 cents a share, for the same period last year. According to a poll by
First Call/Thomson Financial
, 21 analysts expected fourth-quarter earnings of 76 cents a share.
Sales for the quarter grew to $158 billion from $1.39 billion last year, amid a 23% growth in sales of wireless handsets and a 64% rise in satellite system unit sales.
In a conference call with analysts Thursday, the company said it expects its 2001 earnings per share to grow in the range of 15% to 20%, and affirmed analysts' expectations for its first quarter, according to
First Call analysts see full-year earnings of $2.18 a share, and first-quarter earnings of 39 cents a share, compared with 34 cents a share last year.
RadioShack also sees same-store sales growth for fiscal 2001 of about 7% to 8%.
Shares of RadioShack fell $3.55, or 8.4%, to $38.90 in Thursday morning trading on the
New York Stock Exchange
, and have a 52-week range of $35.06 to $72.94.