RadioShack Earnings Soar 22 Percent

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FORT WORTH, Texas -- An "explosion of consumer interest" in digital A/V products and broadband access helped RadioShack's earnings rocket 22 percent in the second quarter to $75.4 million, reported chairman, president and CEO Len Roberts. Total sales for the period ended June 30 rose 15 percent to $1 billion.

Year-to-date, earnings were up 23 percent to $145.1 million over the year-ago period, while six-month sales rose 16 percent to $2.1 billion.

The second-quarter results exceeded expectations by both RadioShack and Wall Street, which sent its shares soaring as high as 7 percent following the announcement yesterday. Roberts attributed the performance to good execution and increases in a variety of product categories including computers, A/V, parts and accessories, home satellite systems and digital wireless.

The company anticipates "continued strength in the digital product cycle," he said, citing home connectivity and its forthcoming Microsoft ISP centers as another catalyst for long-term growth.

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