RadioShack Beats Estimates, Lowers Guidance

RadioShack ( RSH) beat Wall Street's earnings estimate by a penny, posting fourth-quarter income, excluding charges, of $126 million, or 67 cents a share. Analysts had been expecting 66 cents, according to Thomson Financial/First Call.

Including restructuring charges, the consumer electronics retailer earned $35.2 million, or 18 cents a share, down from $145.8 million, or 74 cents a share, in the year ago period.

Sales for the quarter fell 4% to $1.52 billion from $1.58 billion a year ago, while same-store sales, a key measure of retailing performance, fell by 2%.

The company recently announced that it will sell its headquarters in Fort Worth, Texas, and close 35 unprofitable stores. For the first quarter, RadioShack expects earnings of 28 cents to 29 cents a share, short of the Thomson Financial/First Call analyst estimate of 34 cents.

Shares of RSH recently were down 5.6% to $25.50 in Instinet premarket trading after closing at $27.01 Wednesday.

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