RSH - very bad #'s out. Puts looking good
(edit) -HOTT and SHRP next
RadioShack swings to loss on lower wireless sales
By Steve Goldstein
Last Update: 5:22 AM ET Oct 25, 2006
LONDON (MarketWatch) -- RadioShack Corp. (RSH
radioshack corp com
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RSH ) swung to a $16 million, or 12 cents a share, loss in the third quarter, with revenue down 11% to $1.06 billion and comparable store sales falling 9.6%. The company earned $109 million, or 75 cents a share, in the year-ago quarter, boosted by a $59 million gain on a reversal of a tax reserve. The company said sales dropped mostly on lower post-paid wireless sales, and its profit was hurt by lower sales and an unfavorable merchandise mix of both wireless handset units and accessories. RadioShack said, before tax, it made a $29 million writedown on its wireless kiosk operations and took $18 million in costs on its turnaround plan. Analysts polled by Thomson First Call, on average, had expected a profit of 17 cents a share on revenue of $1.13 billion. End of Story |
