Search
 

Single Gain Boosts RadioShack

FORT WORTH, TX-The company's profit increases 56% to $108.5 million thanks to a one-time, non-cash gain of $56.5 million.

By Jennifer D. Duell | Updated on October 24, 2005

FORT WORTH, TX-RadioShack Corp.’s net income for the quarter ending September 30 increased 56% to $108.5 million or 75 cents per diluted share compared to net income of $69.7 million or 43 cents per diluted share for the same period last year.

The company’s profit was positively impacted by a one-time, non-cash gain of $56.5 million or 39 cents per diluted share as a result of a reversed tax contingency reserve, according to executives who spokeduring RadioShack’s earnings conference call.

Without the gain, RadioShack’s profit would have been $52 million or 36 cents per share, missing Wall Street expectations of 37 cents per share on revenue of $1.15 billion, according to Thomson Financial. Shares of the company’s stock reached a 30-month low of $22.40 during Friday’s trading, ending the day at $22.95, a 2.9% decrease from the prior day.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.