Tuesday, February 27, 2007

Radio Shack Earnings: Lookin' Good!

RadioShack quarterly profit rises; stock jumps
Tuesday February 27, 1:38 pm ET NEW YORK (Reuters) -

Consumer electronics retailer RadioShack Corp. (NYSE:RSH - News) reported higher quarterly profit on Tuesday after a restructuring improved inventory management and cut costs, sending its shares up as much as 17 percent. The company also forecast stronger-than-expected earnings for 2007 and analysts said the improvements showed the company's new chief executive was managing to turn around the struggling business. Fourth-quarter earnings rose to $84.5 million, or 62 cents a share, from $51.2 million, or 38 cents a share, a year earlier.
Analysts on average expected profit of 41 cents a share, according to Reuters Estimates.
Amid declining sales of wireless products, RadioShack is trying to stabilize its business by closing stores, clearing slow-moving inventory and replacing it with more popular products...read more: here