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RadioShack Reports Mixed Results

1/14/2003 10:10:00 AM Eastern

Fort Worth, Texas - RadioShack reported this morning that its fourth quarter net was down 1 percent to $1.5 billion while same store sales rose 2 percent.

According to chairman/CEO Len Roberts, total volume was negatively impacted by lower sales from the company's dealer/franchise channel, while strength in portable computing, digital photography, personal electronics and portable audio boosted comps.

Specifically, the company's core wireless and accessories/batteries/technical categories each edged up 1 percent year-over-year; wired communications grew 4 percent; personal electronics, seasonal and portable audio were up 7 percent, led by wellness products, micro R/C cars and portable audio; and the computer category grew 27 percent on strength in home networking, gaming bundles, accessories, portable computers and digital photography.

Conversely, radio communications fell 8 percent due to lower sales of FRS radios, and home entertainment dropped 17 percent on weakness in DSS, the company said.