RadioShack reports 3Q earnings growth

FORT WORTH, Texas RadioShack has announced net income for the third quarter ended Sept. 30, of $50.2 million, or 39 cents per diluted share, compared with net income of $46.3 million, or 34 cents per diluted share, reported for the third quarter ended Sept. 30, 2007.

Comparable same-store increased 7.7% during the third quarter compared with the third quarter of 2007. The increase was attributable to the continued strong performance of digital television converter boxes, growth in AT&T post-paid wireless upgrade activations, video gaming, GPS devices and laptop computers. Total net sales and operating revenues were up 6.4% to $1.02 billion compared with $960.3 million for the same period last year.

"We are pleased with the overall outcome of our third quarter, especially in light of the difficult economic environment," said Julian Day, chairman and ceo of RadioShack. "After strong months in July and August, our sales and earnings trends slowed in September. We anticipate that this challenging retail environment will continue.