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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

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To: John Biddle who wrote (30657)	1/3/2003 8:07:13 AM
From: John Biddle	Read Replies (3) of 196772

Radio Shack Warns, Blames SprintPCS Shortfall By TSC Staff 01/03/2003 08:04 AM EST thestreet.com Radio Shack's (RSH:NYSE - news - commentary - research - analysis) fourth-quarter earnings will trail previous forecasts because of weaker-than-expected sales of several product lines, including SprintPCS (PCS:NYSE - news - commentary - research - analysis) cell phones and carrier contracts. The electronics chain said it expects to earn 58 to 60 cents a share in the quarter, not the 65 cents a share that analysts were predicting. The company said sales rose in each month of the quarter compared with a year ago, but not as much as it had hoped. Radio Shack didn't provide a specific revenue estimate; analysts on average were expecting about $1.47 billion, according to First Call. The company also cited margin pressure beginning in November. Radio Shack singled out SprintPCS products in explaining the sales shortfall, as well as radio-controlled toys and the special batteries they use, and DVD accessories. Looking ahead, Radio Shack said it still expects earnings to rise 13% to 15% a year from 2003 to 2005 on 2% to 3% sales growth and expanding gross margins. Analysts polled by First Call are predicting earnings of $1.66 a share on sales of $4.60 billion in 2003. Neither Radio Shack nor PCS had traded in any significant volume this morning on the premarket networks.

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