RadioShack 1Q Profit Dips

Fort Worth, Texas RadioShack Corp. said Monday first-quarter profit fell 8.7% 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 compared with $42.5 million a year earlier.

Quarterly sales declined 4% to $949 million from $992.3 million. The results surpassed Wall Street's estimate of $937 million.

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

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