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Brightpoint earnings rise as revenue soars

October 27, 2011

Increased distribution and demand for smartphones drove Brightpoint Inc.’s third-quarter revenue up 51 percent, to $1.34 billion, the company said after markets closed Thursday.

The company posted a profit of $13.8 million, or 20 cents per share, up from $9.8 million in the same quarter a year ago.

The per-share earnings were in line with analyst expectations.

Brightpoint, headquartered in Plainfield, offers global logistics services and distribution for phone dealers. The company said it handled 27.3 million wireless devices, including tablets, in the third quarter, an increase of 9 percent over a year ago.

CEO Robert Laikin said he expects the wireless device industry to grow 5 percent in 2012.

“We are reporting strong operating results for the third quarter of 2011, which reflect our continued focus on execution and discipline in managing our business,” Laikin said in a prepared statement.
 
Brightpoint said its North American distribution deal with a group of exclusive dealers for a major network operator contributed to its revenue growth in the quarter.

Brightpoint shares closed at $11.02 Thursday prior to the earnings announcement, up 48 cents each, or 4.55 percent.

 
 

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