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Brightpoint posts record revenue for 2011

February 1, 2012

Brightpoint had a record year in terms of revenue and the number of wireless devices handled in 2011.

The Indianapolis-based company said after markets closed Wednesday that it earned $48.8 million on revenue of $5.24 billion last year.

Fourth-quarter revenue surged 39 percent from a year ago to $1.56 billion, as the logistics provider handled a record 30.7 million devices, including tablets.

Over the year, Brightpoint handled 112.2 million devices, also a record, the company said.

Quarterly earnings were $15.1 million, or 22 cents per share. That compared with earnings of $15.9 million, or 23 cents per share, a year earlier.

Full-year earnings per share were 71 cents, up substantially from 43 cents per share in 2010.

CEO Bob Laikin said Brightpoint is positioned to benefit from the growth of smartphones, but the company revised its earnings forecast for 2012 downward, based on early January results.

Brightpoint said it expects to earn 66 cents to 76 cents per share this year, versus the previous forecast of 67 cents per share to 79 cents per share. Brightpoint said the first-quarter seasonal decline has been greater than normal.

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