RadioShack
ORG
RadioShack
Mr. Edmondson said that RadioShack had failed to achieve its financial objectives in 2005 and also added that earnings were well below Wall Street expectations. RadioShack shares fell $1.67, to $19.08, hitting a three-year low of $18.80. The company said it had suspended its share repurchase program, which was greatly increased in 2005, when it spent $625.8 million on repurchases at an average price of about $25 a share, up from $251.1 million at a price of more than $36 a share the year before. The company said part of the shortfall in profit came from a write-down of $62 million in its inventory as part of the revamping plan. RadioShack's stock fell to a three-year low. RadioShack shares fell $1.67, to $19.08, hitting a three-year low of $18.80. RadioShack, which failed to meet even its own reduced expectations, said it would no longer offer profit forecasts. The company said it had suspended its share repurchase program, which was greatly increased in 2005, when it spent $625.8 million on repurchases at an average price of about $25 a share, up from $251.1 million at a price of more than $36 a share the year before.