Brightpoint to outrun industry in 2010

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Brightpoint says it will outrun the industry with substantial growth in its volume of wireless devices handled in 2010 after recording a 14 per cent increase during Q3

Global distributor Brightpoint said it handled 14 per cent more wireless devices compared to the same period a year ago, with revenue from distribution activities jumping nearly £25 million.

The total number of wireless devices handled by Brightpoint over the quarter to September 30 increased from 21,792 to 24,907.

Revenue for the three months increased from £532 million to £546 million year-on-year, with distribution revenue growing from £474 million to £497 million.

This was tempered by a substantial decline in revenue from logistic services, which fell from £58 million to £49 million.

Operating income from continuing operations rose from £7.8 million to £8.9 million, although income from continuing operations fell from £11.3 million last year to £7 million in Q3 2010.

Brightpoint said income from continuing operations included a £6 million discrete tax benefit related to adjustments of valuation allowances on deferred tax assets and ‘a reversal of a reverse on an uncertain tax position’.

Brightpoint predicted that its full-year volume of wireless devices handled will be up between 18-20 per cent year-on-year to between 98-100 million. Global sell-in for the wireless device industry in 2010 is expected to grow 12-14 per cent year-on-year.

“Our results reflect our continued focus on execution and discipline in managing our business,” said Brightpoint chief executive officer Robert Laikin (pictured).

“We believe that our focus on delivering unique value through wireless supply chain services to leading smartphone manufacturers, along with our commitment to exceeding our customers’ expectations, will allow us to significantly exceed the unit growth rate of the wireless handset industry in 2010.”

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