Cell phone distributor Brightpoint Inc. on Monday predicted fourth-quarter results below analyst estimates, sending shares
down in aftermarket activity.
The Indianapolis-based company estimated adjusted operating income from continuing operations between 13 cents and 18 cents per share. On average, analysts polled by Thomson Reuters predicted earnings per share of 19 cents.
Brightpoint estimated it handled 22 million to 24 million wireless devices in the fourth quarter, which ended Dec. 31. The total for the year was estimated to be between 81 million and 83 million devices, a drop of about 5 percent from 2008.
After the market closed, shares of Brightpoint slid 58 cents, or 7.5 percent, to $7.18 each. The stock has ranged from $3.06 to $9.29 per share over the past year.