RadioShack sees drop in 3Q earnings

FORT WORTH, Texas RadioShack announced net income for the third quarter ended Sept. 30, of $37.4 million, or 30 cents per diluted share, compared with net income of $49.1 million, or 38 cents per diluted share, reported for the third quarter ended Sept. 30, 2008.

Total net sales and operating revenues were down 3.1% to $990 million compared with $1.021 billion for the same period last year. Comparable same-store sales for company-operated stores and kiosks decreased 2.9% during the third quarter compared with the third quarter of 2008.

Commenting on the financial results, Jim Gooch, EVP and CFO, said, "Our financial performance improved in the latter part of the quarter, primarily driven by our strong mobility business combined with an economy showing some signs of potential stabilization."