Business Services Industry
RadioShack Meets Lowered Expectations with Quarterly Report.
Knight Ridder/Tribune Business News, April, 2001
By Leah Beth Ward, The Dallas Morning News Knight Ridder/Tribune Business News
Apr. 25--RadioShack Corp. delivered first-quarter results Tuesday that met Wall Street's previously lowered expectations.
Profit fell 33 percent, and the company said it could drop again in the second quarter.
Income excluding one-time losses from an Internet investment fell to $65.1 million, or 33 cents, compared with $67.9 million, or 34 cents, in the year-ago quarter.
When the losses are included, net income was $46.5 million or 23 cents a share.
Analysts on average expected a profit of 32 cents a share, from a range of 31 cents to 33 cents, according to First Call/Thomson Financial.
First quarter sales increased to $1.14 billion...
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