Electronics retailer RadioShack Corporation ( RSH
The Fort Worth, TX-based compared reported second quarter net income of $53 million, or 41 cents per share, compared with $48.8 million, or 39 cents per share, in the year-ago period.
Meanwhile, net sales gains 4.7% from last year, to $1.01 billion.
On average, Wall Street analysts expected a matching profit of 41 cents per share, on nearly matching revenue of $1.02 billion.
The company also intimated that same-store sales rose 6.7% in the period, driven by rising wireless sales.
RadioShack shares rose 26 cents, or +1.3%, in premarket trading Thursday.
The Bottom Line
The company has a 1.24% dividend yield, based on last night's closing stock price of $20.19. The stock has technical support in the $18 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels. We would remain on the sidelines for now.
RadioShack Corporation ( RSH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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