RadioShack Q4 Up, TV and CE Device Sales Down26 Feb, 2008 By: Chris Tribbey
Electronics retailer RadioShack Corp. announced net income of more than $101 million for the 2007 fourth quarter (ended Dec. 31), up from $84.5 million during the same period in 2006. However, sales were down more than 8% for the year compared to 2006 the company said during a earnings call with investors Feb. 26.
The company saw great gains in sales of GPS and home storage devices, as well as video games. But sales of TVs and other home entertainment electronics, as well as wireless devices, dragged the company's sales down.
“[Including wireless and] … the television and the large flat-screen TV business … these two categories alone make up 100% of our sales shortfall,” said RadioShack EVP and CFO Jim Gooch.