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RadioShack Shares Hit 52-Week High on Strong Profit Report.
Knight Ridder/Tribune Business News, February, 2004
By Steve Quinn, The Dallas Morning News Knight Ridder/Tribune Business News
Feb. 20--RadioShack Corp. shares soared to a 52-week high Thursday after the Fort Worth-based electronics retailer said a new merchandise mix and higher wireless product sales led to a sharp rise in quarterly and annual profits.
The company said fourth-quarter net income rose 17 percent to $127 million, or 77 cents per share, from $109 million, or 63 cents, a year ago. RadioShack had said last month that it would top its forecast of 67 to 70 cents. The results exceeded analyst estimates of 72 cents.
In addition, net income for 2003 grew 13 percent to $298.5 million, or $1.77 a share, from $263 million, or $1.45 a share.
RadioShack shares gained $2.10...
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