Brightpoint Down 16% After Reporting Poor Earnings

Shares of Brightpoint

are down more than 16% today after the company reported poor earnings. Revenue for the year ended December 31, 2011 was $5.24 billion, which represents record revenue generated in a full year. Revenue was $1.56 billion for the fourth quarter of 2011, an increase of 39% compared to the fourth quarter of 2010 and an increase of 16% compared to the third quarter of 2011. Wireless devices handled, including tablets, were 112.2 million for the year ended December 31, 2011, which represents a record amount handled in a year. Wireless devices handled were 30.7 million (includes 0.8 million tablets) for the fourth quarter of 2011, which was a record amount handled in a quarter for BrightPoint. This represents an increase of 6% compared to the fourth quarter of 2010 and an increase of 13% compared to the third quarter of 2011. Income from continuing operations was $15.0 million, or $0.22 per diluted share, for the fourth quarter of 2011 compared to $15.4 million, or $0.22 per diluted share, for the fourth quarter of 2010 and $13.1 million, or $0.19 per diluted share, for the third quarter of 2011.