Consumer electronics retailer RadioShack Corp. (RSH) reported first-quarter net loss of $8.0 million or $0.08 per share, as against a profit of $35.1 million or $0.33 per share last year. Prior year's net income included costs associated with the early retirement of debt totaling $4.1 million, or $0.02 per share. Income per share from continuing operations amounted to $0.30 a year ago.
On average, 19 analysts polled by Thomson Reuters expected earnings per share of $0.04 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly net sales and operating revenues totaled $1.01 billion compared with $1.02 billion a year earlier, driven by a $61.6 million drop in sales from U.S. RadioShack company-operated stores, which was partially offset by a $52.5 million increase in other sales, reflecting an additional 610 Target Mobile centers in operation at March 31, 2012, compared with March 31, 2011. Analysts estimated revenues of $1.06 billion for the quarter.
by RTT Staff Writer
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