RadioShack Beats on Revenue

The company credits sales of wireless communications and personal electronics.
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RadioShack

(RSH)

Thursday reported better-than-expected fourth-quarter revenue, thanks to sales of wireless communications and personal electronics.

Revenue rose 7% to $1.59 billion and same-store sales grew 3% in the quarter ended Dec. 31. Analysts expected $1.57 billion, according to a Thomson First Call survey.

"Sales gains in wireless, imaging and personal electronics were key factors in driving our financial results," the company said.

Sales of wireless communications goods and services rose 13%, while sales in the personal electronics, toys and music category gained 12%.

RadioShack reaffirmed its fiscal-year 2004 EPS guidance of $2.07 to $2.09 as well as its full-year 2005 forecast for 19% to 21% EPS growth. The consensus estimates are $2.10 and $2.39 a share.

The Fort Worth, Texas-based company also said President and COO David Edmondson will replace CEO Leonard Roberts as of the company's annual meeting May 10. Roberts will remain chairman.

The company reports full fourth-quarter results Feb.17.

Shares closed at $31.65 Wednesday.