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Article: Wall Street celebrates Brightpoint's third quarter, HTC handset contract.(News)
- Article from:
- RCR Wireless News
- Article date:
- November 13, 2006
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Copyright informationCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Investors applauded Brightpoint Inc., sending the company's stock up more than 15 percent, after the mobile-phone distributor posted third-quarter profits and revenues that reached record levels.
Brightpoint's revenues totaled $633.7 million, an increase of 16 percent from revenues of $545 million during the third quarter of 2005. The figure far exceeded average analyst forecasts of $590.5 million.
Net income stood at $8.8 million, a reversal of net loss of $6.2 million reported during the same period last year.
"The results show that management's multi-pronged expansion strategy is proving a buffer to trouble spots, but also highlights that execution and a ...
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