Brightpoint, Inc. (NASDAQ:CELL) reported net income above Wall Street’s expectations for the second quarter. Brightpoint, Inc. is engaged in providing supply chain solutions to the wireless industry.
Brightpoint Earnings Cheat Sheet for the Second Quarter
Results: Net income for the electronics wholesaler rose to $10.7 million (16 cents per share) vs. $3 million (4 cents per share) in the same quarter a year earlier. This is a more than threefold rise from the year earlier quarter.
Revenue: Rose 56.6% to $1.23 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: CELL reported adjusted net income of 23 cents per share. By that measure, the company beat the mean estimate of 15 cents per share. It beat the average revenue estimate of $1.1 billion.
Quoting Management: “Our comprehensive supply chain solutions offerings enabled us to handle approximately 27 million wireless devices in the second quarter of 2011,” Chairman Robert J. Laikin said. “I believe Brightpoint remains well positioned to capitalize on growing smartphone and tablet trends in the global wireless industry.”
Revenue has risen the past four quarters. Revenue increased 40.2% to $1.11 billion in the first quarter. The figure rose 23.7% in the fourth quarter of the last fiscal year from the year earlier and climbed 2.4% in the third quarter of the last fiscal year from the year-ago quarter.
The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 15 cents versus a mean estimate of net income of 16 cents per share.
The company has now seen net income rise in two straight quarters. In the first quarter, net income rose more than sixfold from the year earlier.
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), Research in Motion (NASDAQ:RIMM), Sprint (NYSE:S), Verizon (NYSE:VZ), AT&T (NYSE:T), Nokia (NYSE:NOK), and SYNNEX Corporation (NYSE:SNX).
(Source: Xignite Financials)