Brightpoint profits fall in 3Q compared to 2008
Northwestside-based electronic wholesaler Brightpoint today reported third-quarter revenues were 26 percent below the same third months in 2008.
Revenues totaled $867.9 million for the third quarter, which was an increase of 21 percent compared to the second quarter this year. The increase over the second quarter was primarily due to an increase in distribution revenue from the Middle East and Singapore, Brightpoint said in a statement.
The decrease in revenue over last year’s third quarter was primarily due to an 11 percent decrease in wireless devices handled through its distribution, and a lower average selling price for wireless devices Brightpoint distributes.
For the year-to-date, Brightpoint stock has increased by more than 66 percent. It fell more than 71 percent in 2008, according to Morningstar financial resource. Stock today closed at $7.34 per share.
Brightpoint distributes cellular telephones and related products, according to Morningstar. The company markets vehicle-mounted, transportable and hand-held portable cellular telephones and accessories as well as batteries, battery eliminators and chargers, antennas and cases. Nokia, Ericsson, Motorola, Kyocera, Siemens, Sony and Panasonic are some of the company’s primary manufacturers. The company distributes its products to more than 20,000 customers in the world.
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