Brightpoint, Inc. (NASDAQ:CELL) reported higher profit for the first quarter as revenue showed growth. Brightpoint, Inc. is engaged in providing supply chain solutions to the wireless industry.
Brightpoint Earnings Cheat Sheet for the First Quarter
Results: Net income for Brightpoint, Inc. rose to $9.3 million (13 cents/share) vs. $1.4 million (2 cents/share) in the same quarter a year earlier. A substantial increase from the year earlier quarter.
Revenue: Rose 40.2% to $1.11 billion YoY.
Actual vs. Wall St. Expectations: CELL reported adjusted net income of 20 cents per share. By this measure, the company beat the mean analyst estimate of 18 cents/share. Estimates ranged from 17 cents per share to 21 cents per share.
Quoting Management: “I am pleased we were able to deliver strong financial results for the first quarter of 2011,” said Tony Boor, Brightpoint’s Chief Financial Officer and Treasurer. “Distribution average selling price was over $200 for the first quarter of 2011, an increase of over 29% compared to the first quarter of 2010 and reflects our growing share of smartphones sold.”
Over the last five quarters, revenue has increased 17.5% on average year over year. The biggest increase came in the most recent quarter, when revenue rose 40.2% from the year earlier quarter.
Competitors to Watch: TESSCO Technologies, Inc. (NASDAQ:TESS), InfoSonics Corporation (NASDAQ:IFON), Ingram Micro Inc. (NYSE:IM), Arrow Electronics, Inc. (NYSE:ARW), Avnet, Inc. (NYSE:AVT), ADDvantage Tech. Group, Inc. (NASDAQ:AEY), Motorola Mobility Hldgs. Inc (NYSE:MMI), Tech Data Corporation (NASDAQ:TECD), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), and SYNNEX Corporation (NYSE:SNX).
Today’s Performance: Shares of CELL are unchanged in after hours trading.