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

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To: jackmore who wrote (30677)	1/3/2003 5:32:49 PM
From: jackmore	Read Replies (1) of 196914

Weak RadioShack Quarter Reflects Slow Sprint PCS Sales By Wireless Week Staff January 3, 2003 Sprint PCS problems with customer activations helped drag down the fourth quarter performance of the nation's biggest independent wireless retailer, RadioShack Corporation, but the store chain sees improving performance up ahead. RadioShack told financial analysts today that its fourth-quarter earnings per share expectations were for a profit in the range of 58 cents to 60 cents per share, less than its earlier forecasted range of 63 cents to 68 cents. The company pointed to slow sales of accessories related to DVD players and radio controlled toys for the reduction but also fingered weaker than expected sales and gross margins for Sprint PCS products beginning in November. RadioShack also told analysts that the growth rates for Sprint - which typically gets about 25 percent of its gross subscriber additions through RadioShack - were slowed by a new customer activation process that took longer than expected. Lehman Brothers noted that the timing of the slowdown also coincided with the reinstitution of a deposit requirement for the carrier's ClearPay product, which also had a well-publicized negative impact on Sprint's subscribership in the third quarter. Lehman noted in a commentary that sales of Verizon Wireless products carried by RadioShack were strong in the fourth quarter, indicating that overall wireless customer demand was evident. However, both Circuit City and Best Buy also have reported weaker than expected sales due partly to the performance of wireless. Lehman's John Bensche now estimates that Sprint had about 185,000 net subscriber adds in the fourth quarter. Sprint's PCS tracking shares were down more than 9 percent in mid-day Eastern time trading. wirelessweek.com

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