RadioShack Corporation

Earnings per share rose 7 cents to 39 cents from 32 cents in the year ago period. The Zacks Consensus Estimate called for 29 cents.

Net sales fell 2.9% to $965.7 million compared with $994.9 million for the year ago period. The decline was primarily due to a 4.6% decrease in sales generated by company-operated stores, a 3.2% decrease in kiosk sales, and an 18.8% increase in other sales.

Same-store sales declined 4% compared to a year ago. Sales declined in wireless accessories, digital-to-analog converter boxes, GPS products, music players and digital cameras. However, sales of netbooks, television antennas, prepaid wireless handsets, digital televisions and Voice over Internet Protocol Products rose.

Inventories fell by $48.1 million over the year ago period.

The company also grew its cash and cash equivalents to $930.8 million at the end of the quarter from $577.8 million as of June 30, 2008.

Zacks Consensus Estimates Rise

Following the estimates surprise, covering analysts moved to revise third quarter and full year estimates.

The third-quarter Zacks Consensus Estimates rose 3 cents to 31 cents in the last week with 11 out of 16 covering analysts raising.

15 out of 17 analysts also raised for the full year as the 2009 Zacks Consensus Estimate jumped 15 cents to $1.54 per share.

Value Fundamentals

RadioShack was a Zacks #1 Rank (strong buy) stock when I last reviewed it on May 29 and is now a Zacks #2 Rank (buy) stock.

It is still an attractive value stock, with a forward P/E of 10.03. It has an outstanding 1-year return on equity (ROE) of 23.84%.

As an added bonus, the company pays a dividend, with a current yield of 1.60%.

Read the May 29 analysis.

Update to Previous Value Zacks Rank Buy Stocks

JDA Software Group, Inc. (JDAS - Snapshot Report) is bucking the economic downturn as the company recently reported record second quarter results on the back of strong software sales. JDAS is trading with a forward P/E of 13.9. Read the full article.

Oriental Financial Group Inc. (OFG - Snapshot Report) continues to show strength in its key market of mid to high net worth clients as it recently surprised on earnings for the 8th consecutive time. Despite a run up in the stock price, OFG isn't expensive. It trades at just 4.1x forward earnings. Read the full article.

Cato Corporation (CTR) is finding consumers like its value-priced women's apparel as same-store sales for the first half of the year rose 1% compared to 2008. The company has surprised on estimates 3 out of the last 4 quarters by an average of 54.76%. CTR is trading at 14.9x forward earnings. Read the full article.

The Anderson's, Inc. (ANDE - Analyst Report) is expected to report second-quarter results next week after beating the Zacks Consensus Estimate by 28 cents in the first quarter. Can it keep the momentum? Analysts are expecting 19.55% year over year earnings growth in 2009. Read the full article.

Read the full analyst report on RSH