RadioShack 4Q Profit Rises
Fort Worth, Texas RadioShack Corp. said Tuesday its fourth-quarter earnings rose 20% as the company cut operating costs. Net income rose to $101 million from $84.5 million in the year-ago period.
Total sales fell 6% to $1.36 billion. Same-store sales dropped 6.7%. RadioShack blamed the decline on fewer postpaid wireless and satellite radio contracts.
For the year, profit more than tripled to $236.8 million, and sales fell 11% to $4.25 billion. Same-store sales dropped 8.2%.