Increased demand for wireless phones and related goods contributed heavily to bolstering RadioShack’s fiscal fourth-quarter profit by an impressive 26 percent.
Reports from the company Monday indicated earnings of $75.7 million, or 60 cents a share for the quarter, impressive growth from the $60.1 million, or 48 cents a share earned for the fourth quarter a year prior. Additionally, revenue rose by 4.7 percent to $1.32 billion while locations open over a year, or same store sales as they are called showed 6.1 percent improvements.
Radioshack minorly exceeded Wall St. expectations of 59 cents a share on revenue of a flat $1.3 billion due in part to increased Sprint Nextel postpaid wireless sales and the recent introduction of carrier T-mobile. Also boosting sales, were prepaid wireless handsets and airtime though those improvements were negated somewhat by falling TV digital-to-analog converter box sales.
The positive news led shares of RadioShack to close 1.3 percent at $20.63 for Monday.
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