RadioShack 1Q profit dips but beats Wall Street expectations

FORT WORTH, Texas—Electronics retailer RadioShack Corp. said Monday first-quarter profit fell 8.7 percent partly on Sprint postpaid wireless sales, but the results still topped analysts' estimates.

For the period ended March 31, net income dropped to $38.8 million, or 30 cents per share, compared with $42.5 million, or 31 cents per share, a year earlier.

Analysts polled by Thomson Financial expected earnings of 29 cents per share.

Quarterly sales declined 4 percent to $949 million from $992.3 million.

The results surpassed Wall Street's estimate of $937 million.

Same-store sales slipped 4 percent during the quarter due mostly to lower Sprint postpaid wireless sales.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

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