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RadioShack profit down 30% on costs
Fort Worth, Texas -- RadioShack Corp.'s first-quarter earnings fell 30% amid higher costs and lower margins. The company also lowered the high end of its full-year earnings estimate.
RadioShack reported net income of $35.1 million, down from $50.1 million a year earlier.
Revenue for the three months ended March 31 rose 2% to $1.06 billion, boosted by 11% growth in mobile devices. -
Party City Holdings files $350 million IPO
Elmsford, N.Y. -- Party City Holdings, parent company of Amscan Holdings, has filed an initial public offering of $350 million of common stock as it raises funds to pay down debt.
It intends to list under the symbol PRTY. Current stockholders are also likely to sell shares alongside Party City in the IPO.