Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWireless phone distributor Brightpoint Inc. eked out third-quarter earnings of $5.5 million – in line with analysts’ expectations but off 58 percent from a year earlier.
On a per-share basis, profit was 6 cents a share – matching the average estimate of five analysts who track the company.
Revenue in the quarter totaled $1.2 billion, up 4 percent from the same period a year earlier.
Brightpoint said it is continuing to integrate and restructure its European operations, which the company acquired in July 2007 as part of its $385 million purchase of Denmark-based Dangaard Telecom A/S.
“Despite the challenging macroeconomic factors affecting all industries, our … low-cost business model, global market position and strong balance sheet are resulting in many new opportunities with the leading companies in the wireless space,” CEO Bob Laikin said in a written statement.
The company announced the results late yesterday. Late this morning, Brightpoint shares were trading at $5.97, up 36 cents, or 6.4 percent.
Please enable JavaScript to view this content.