[April 28, 2008] Radio Shack Plummets on Lower Profit, Analyst Comment Tweet (Midnight Trader Via Acquire Media NewsEdge) Boston, Apr 28, 2008 (MidnightTrader via COMTEX News Network) -- Radio Shack (RSH) is down nearly 13% in mid-morning trading after the company reported lower profit and tighter margins and a Lehman Bros analyst initiated coverage with an "underweight" rating. Lehman analyst Michael Lasser said the electronics retailer is unlikely to improve its sales over the course of the year. He set a price target of $15. The company reported net income of $38.8 million, or 30 cents a share, compared with $42.5 million, or 31 cents a share, a year earlier, down about 8%. Analysts were looking for 29 cents a share on revenue of $937 million, according to a poll by Thomson Reuters. Gross margin fell 2.5 percentage points to 47.4%. Price: 15.12, Change: -2.27, Percent Change: -12.97 Copyright (C) 2008 MidnightTrader.com. All rights reserved. Unauthorized reproduction is strictly prohibited. [ Back To TMCnet.com's Homepage ]