RadioShack Corp. (RSH) reported fourth-quarter earnings per share that narrowly beat expectations and weighed in with revenue in-line with the Street’s view.
The company said fourth-quarter profit rose to $75.7 million or 60 cents a share, up from year-ago earnings of $60.1 million or 48 cents a share. Revenue rose 4.7% to $1.32 billion, up from revenue of $1.26 billion in the fourth quarter of 2008.
The results narrowly beat expectations; analysts polled by Thomson Reuters had forecast earnings of 59 cents per share on revenue of $1.32 billion.
Same-store sales improved 6.1% at company-owned stores, while gross margin improved to 43.9%, up from 41.8% in the year-ago quarter.
The electronics retailer, which recently repositioned its branding, was pleased with the results.
"In 2009, we leveraged our financial and operational strength to relaunch our brand, focusing more clearly on our leadership in the areas of mobility and innovative technology, supported by our skilled and helpful associates and our network of convenient locations,” said RadioShack Chairman and Chief Executive Officer Julian C. Day in a statement. “These brand-building efforts resonated with consumers and our vendor partners."
Shares of RadioShack rose 27 cents or 1.33% ahead of the bell on Monday, closing at $20.63 a share. The stock was down 71 cents or 3.44% in trading after hours.
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