Brightpoint profit falls, but meets expectations

  • Comments
  • Print

Wireless 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.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.