RadioShack sees rise in 1Q income

FORT WORTH, Texas RadioShack announced preliminary net income for the first quarter ended March 31, of $43.1 million, or 34 cents per diluted share, compared with net income of $38.8 million, or 30 cents per diluted share, for the first quarter ended March 31, 2008.

Total net sales and operating revenues were up 5.6% to $ billion compared with $949 million for the same period last year. Comparable same-store sales for company-operated stores and kiosks increased 5% during the first quarter compared with the first quarter of 2008.

Commenting on the financial results, RadioShack's chairman and CEO Julian Day said, "We are very pleased with the results we reported today. An eight percent operating margin is the strongest first quarter performance we have achieved since 2004. Of particular note were strong performances in our wireless business and digital converter boxes."