Sales of wireless products drove
profit in the third quarter, as the retailer cruised by earnings expectations.
The Ft. Worth, Texas-based company announced net income of $69.7 million, or 43 cents a share, for the quarter ended Sept. 30, vs. net income of $57.1 million, or 34 cents a share, in the year-ago period. Revenue rose 4% to $1.1 million. Same-store sales increased 5%
Analysts were expecting the company to earn 39 cents a share.
Wireless sales rose 19%.
RadioShack also reaffirmed 2004 EPS guidance of $2.07 to $2.09 and a 2005 EPS growth rate guidance of 19% to 21%. The consensus estimates are for EPS of $2.08 and $2.35.
Shares were trading at $30.10, up 50 cents, or 1.7%, in the premarket.