Originally published Wednesday, November 4, 2009 at 6:25 PM
Comments (2)
E-mail article
Print view
Share
Brightpoint 3Q profit doubles on tax benefit boost
Cell phone distributor Brightpoint Inc. said Wednesday its third-quarter profit more than doubled, helped by tax benefits.
The Associated Press
Cell phone distributor Brightpoint Inc. said Wednesday its third-quarter profit more than doubled, helped by tax benefits.
Quarterly earnings jumped to $11.2 million, or 14 cents per share, from $5.5 million, or 6 cents per share, in the same period last year. The results included an $8.2 million tax-related gain, compared with a $5.6 million tax expense in the year-ago quarter.
Excluding that and other one-time items, Brightpoint said it earned 13 cents per share, two cents better than Wall Street was expecting, according to a Thomson Reuters survey of analysts.
Revenue fell 26 percent to $867.9 million from $1.2 billion in the year-ago quarter. Brightpoint said its distribution business handled 11 percent fewer wireless devices, and those it did sell were less expensive on average.
The results still topped analysts' $753 million estimate.
Brightpoint said that during the quarter it reached its goal of eliminating 220 jobs, part of a cost-cutting plan announced in February.
E-mail article
Print view
Share
Flood fears dampen business, home sales
UPDATE - 02:45 PM
Microsoft finance chief Chris Liddell resigns
UPDATE - 02:59 PM
Brighter Fed forecast helps market pare losses
Banks earn $2.8B in 3Q; FDIC says dangers persist
A Bing deal for Microsoft, News Corp.?
More Business & Technology headlines...
New Beginnings Christian Fellowship
Coming in this Sunday's Pacific Northwest Magazine: Pastor Braxton's mission is to preach a message that appeals to everyone.
PNW Magazine | Easy As Pie
Real Salt Lake wins MLS Cup
Raw Video | Real Salt Lake fans celebrate
Raw Video | Real Salt Lake receives the MLS Cup trophy
Raw Video | MLS Cup Opening Ceremony
Real Salt Lake fans enter Qwest Field
LA Galaxy's David Beckham
Real Salt Lake's Kyle Beckerman
MLS trophy arrives in Seattle
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
shopping
events for Tuesday, Nov. 24
- Cicada Bridal Party Dress Sale
- Birth and Beyond Baby Closing Sale
- Handbag-a-Palooza at Clover House
- Ian Black Friday 3-Day Sale
editors' picks
More shopping guides- Illegal workers quietly let go
- Sprouts, raw fish on attorney's 'do not eat' list
- Jerry Brewer | Jerry Brewer: Seahawks can't lean on the Hutch Crutch now
- Woman stabbed by stranger in North Seattle
- Tattoos at Mill Creek church pierce skin, soul
- UW, WSU once again meet to see who's worse
- Food-safety lawyer's wish: Put me out of business
- Husky Football Blog | Ranking the Pac
- Vikings easily beat the Seahawks
- Tugboat sinks at Seattle waterfront pier
- Illegal workers quietly let go 431
- Bellevue residents blast new bikini espresso stand 224
- Big demand, grim outlook for state Basic Health Plan 174
- Jose Lopez appears to be on his way out 174
- Next Seahawks GM should be Mike Holmgren 134
- Washington State coach Paul Wulff says he's excited about Cougars' future 130
- Seattle woman charged with knife attack on boyfriend's ex 94
- Middleton says Huskies "plan on scoring at least 50 points'' Saturday 87
- Some fans at Fort Bragg see themselves in Sarah Palin 72
- Hate crimes against gays, religious groups up, FBI says 64
- Sprouts, raw fish on attorney's 'do not eat' list
- Tattoos at Mill Creek church pierce skin, soul
- Food-safety lawyer's wish: Put me out of business
- Illegal workers quietly let go
- Architects, chefs find 'kid' within to build Gingerbread Village
- Nicole Brodeur | Homeless woman bent on giving
- Hutch gets $10M from Bezos family for immunotherapy research
- Portland cafe's specialty: medical-marijuana tokes
- Big demand, grim outlook for state Basic Health Plan
- Rediscovering Moab, 'the most beautiful place on Earth'
