RadioShack sees rise in 4Q net income

FORT WORTH, Texas RadioShack today announced an increase in reported net income to $101 million, or 77 cents per diluted share, for the quarter ended Dec. 31, 2007. Net income for the quarter ended Dec. 31, 2006, was $84.5 million, or 62 cents per diluted share.

"I am delighted to announce that our team here at RadioShack once again produced strong improvement in our operating profit for the fourth quarter, and for the year as a whole," said Julian Day, chairman and ceo. "It is a testament to the hard work and devotion of everyone concerned, that this result was achieved against a background of difficult and uncertain economic conditions."

The company reported that comparable-store sales were down 6.7% versus the fourth quarter of 2006. The decline in comparable sales was mainly driven by lower sales in postpaid wireless and satellite radio partially offset by increases in GPS units, pre-paid wireless sales, video gaming and media storage, the company said.

Total sales in the fourth quarter of 2007 were down $94 million to $1.36 billion versus total sales of $1.46 billion for the same period last year, driven by the decline in comparable-store sales.