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RadioShack Needs More Money

|Includes: RadioShack Corporation (RSH)

Originally published at www.seclive.com

RadioShack Corp. (NYSE:RSH) announced its financial results for the second quarter of fiscal year 2014, posting its tenth consecutive quarter of losses. The electronics retailer lost $137.4M and $1.35 per share during the quarter, a substantial increase to the year-ago loss of $52.2M and $0.51 per share. Revenue fell from $861.4M to $673.8M, widely missing analyst predictions of $735.9M. RadioShack has continued to struggle to find its place in the rapidly evolving electronics retail environment, competing against online retailers and other companies that have taken its market share. RadioShack is working with a number of parties to restructure the company and its debt, consolidate stores, and cut costs in an effort to overhaul its balance sheet. Analysts opine that with operational decisions being vetted by creditors, management is no longer in charge and that bankruptcy is imminent.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.