DTV Converters Boost RadioShack Revenues

Retailer reported strong sales of digital TV devices
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RadioShack (NYSE:RSH) said DTV converter boxes helped boost its overall sales by nearly 7 percent for the quarter ending June 30. The Shack generated $995 million in revenues, up $60 million over the same period last year.

“The increase in comparable sales was driven by strong initial sales of digital-to-analog TV converter boxes, continued strong performance in GPS devices, increased sales in video gaming, prepaid wireless phones and significant improvement in AT&T post-paid business,” the Fort Worth, Texas franchise conglomerate said in its earnings release.

Net income for the second quarter was down prima facie, from $47 million last year to $41.4 million this year, but due to extenuating circumstances of a $10 million income tax reversal last year, and a $4.3 million one-time charge this year.