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BrightPoint takes quarterly loss despite uptick in revenue

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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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  1. You are correct that Obamacare requires health insurance policies to include richer benefits and protects patients who get sick. That's what I was getting at when I wrote above, "That’s because Obamacare required insurers to take all customers, regardless of their health status, and also established a floor on how skimpy the benefits paid for by health plans could be." I think it's vital to know exactly how much the essential health benefits are costing over previous policies. Unless we know the cost of the law, we can't do a cost-benefit analysis. Taxes were raised in order to offset a 31% rise in health insurance premiums, an increase that paid for richer benefits. Are those richer benefits worth that much or not? That's the question we need to answer. This study at least gets us started on doing so.

  2. *5 employees per floor. Either way its ridiculous.

  3. Jim, thanks for always ready my stuff and providing thoughtful comments. I am sure that someone more familiar with research design and methods could take issue with Kowalski's study. I thought it was of considerable value, however, because so far we have been crediting Obamacare for all the gains in coverage and all price increases, neither of which is entirely fair. This is at least a rigorous attempt to sort things out. Maybe a quixotic attempt, but it's one of the first ones I've seen try to do it in a sophisticated way.

  4. In addition to rewriting history, the paper (or at least your summary of it) ignores that Obamacare policies now must provide "essential health benefits". Maybe Mr Wall has always been insured in a group plan but even group plans had holes you could drive a truck through, like the Colts defensive line last night. Individual plans were even worse. So, when you come up with a study that factors that in, let me know, otherwise the numbers are garbage.

  5. You guys are absolutely right: Cummins should build a massive 80-story high rise, and give each employee 5 floors. Or, I suppose they could always rent out the top floors if they wanted, since downtown office space is bursting at the seams (http://www.ibj.com/article?articleId=49481).

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