Financial Results and Brightpoint and Public Companies and Tech Companies and Technology

Brightpoint revenue, earnings exceed analyst expectations

February 2, 2011

Indianapolis-based Brightpoint Inc. on Wednesday reported fourth-quarter revenue and earnings exceeding analyst predictions.

The wireless phone distributor said revenue in the fourth quarter was $1.1 billion, an increase of 24 percent over the same period of 2009.

Adjusted income from continuing operations was $24 million, or 34 cents per share. That compares with $17.8 million, or 22 cents per share, in the fourth quarter of 2009.

Analysts expected revenue of $1 billion and adjusted earnings per share between 26 cents and 29 cents per share.

The company said it handled a record-high 29.1 million wireless units in the fourth quarter, an increase of 21 percent over the same period of 2009.

Brightpoint also disclosed that it paid $18.4 million for its recently announced acquisition of a 533,000-square-foot distribution facility in the AllPoints Midwest business park in Plainfield.

Brightpoint stock closed at $9.52 per share Wednesday prior to the release of its quarterly financials, its highest closing price since June 2, 2008.
 

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