Brittney Griner Back in US Blur Your Home on Google Maps Gift Picks From CNET Editors 17 Superb Gift Ideas Guillermo del Toro's 'Pinocchio' 'Harry & Meghan' on Netflix Prepping for 'Avatar 2' Lensa AI Selfies
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

CompUSA sees 23 percent jump in 4Q sales, but prices plummet

CompUSA Inc. (NYSE: CPU) said Wednesday sales in its fourth quarter rose to $1.46 billion, up 23 percent from the $1.19 billion it recorded in the year-ago period. Its shares closed up 1/8 to 7 7/16.

A survey of analysts by Zack's Investment Research Inc. predicts CompUSA will lose 23 cents a share in the quarter.

Last quarter, it lost $4.9 million, or 5 cents a share, on sales of $1.69 billion.

Company officials said comparable store sales inched up 1 percent in the quarter for its 155 retail outlets.

For the fiscal year, CompUSA said it sales improved 20 percent from the year-ago period to $6.32 billion.

Technical services sales and training sales for the fourth quarter increased 29 percent to $36 million and 17 percent to $30 million, respectively, from the comparable period a year ago.

However, average selling prices of desktop computers fell 20 percent compared to the third quarter and 7 percent versus the year-ago quarter.

Its shares peaked at 21 3/4 in July before plunging to a low of 5 9/16 in August.

Eleven of the 14 analysts following the stock rate it either a "hold" or a "sell."

CompUSA will announce its fourth quarter and year-end results on Aug. 18.