Brightpoint has revealed a drop in the number of units handled but reported an increase in revenue and gross margin.
Revenue rose to $1.2 billion during Q3, upfour per cent on the same period last year. Margin hit 7.2 per cent, up 0.5 per cent from the third quarter of 2007.
Global economic worries were blamed for a drop in units handled as numbers slid 1.7 million to 20.3 million. Brightpoint readjusted its forecast for the year to be between 85-90 million units, down from 90-95 million.
“I am pleased with our cash flows from operations and working capital improvements during the third quarter,” said Brightpoint chief financial officer Tony Boor.
“We generated over $53 million of cash flows from operations, which allowed us to reduce our debt balances by more than $46 million by the end of the quarter.”
Debt was revealed to be lower than initial target of $200 million, coming in at $185.5 million.