RadioShack Profit Up in 3Q
Fort Worth, Texas RadioShack reported a jump its in third quarter profit on Thursday, aided by demand for digital-television converters and video games.
RadioShack Corp. announced that its net income for the third-quarter ended Sept. 30 was $50.2 million, compared with net income of $46.3 million in the same quarter the year before.
However, the company cautioned that sales and earnings trends slowed in September and expects the "challenging retail environment" to continue.
Operating income for the third quarter increased 9.8% to $84.8 million compared with $77.2 million last year.
Same-store sales for company-owned stores and kiosks increased 7.7% during the third quarter.
Meanwhile, total net sales and operating revenues were up 6.4%, helped by a 45% jump in online sales.
The company also cited strong sales of laptop computers, video games and navigation systems.