Brightpoint and Tech Companies and Manufacturing & Technology and Technology

BrightPoint takes quarterly loss despite uptick in revenue

August 8, 2012

BrightPoint Inc. suffered a $4.1 million second-quarter loss despite a 3-percent increase in revenue, the Indianapolis-based wireless device distribution and logistics company said Wednesday afternoon.

Profit was down from $10.7 million in the second quarter of 2011 and from $2.6 million in the first quarter of 2012. 

Revenue increased to $1.27 billion, up from $1.23 billion in the same quarter of 2011, but down from $1.37 billion in the first quarter.

The company attributed the loss to decreases in smart-phone selling prices in Southeast Asia and a competition-induced drop in North American sales.

The earnings report was the first for BrightPoint since it reached a merger deal with California-based Ingram Micro Inc. The companies announced in early July that Ingram, which has its headquarters in Santa Ana, Calif., would acquire BrightPoint’s shares for $9 each as part of a $840 million deal.

BrightPoint shares closed at $8.98 a share Wednesday, down 1 cent on the day.
 

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