INDIANAPOLIS-Brightpoint Inc. reported revenues for the first quarter ended March 31 increased 9 percent from $343.4 million in first-quarter 1998 to $372.7 million for the same time this year.
The company experienced a first-quarter net loss of $15.3 million, or 29 cents per share, compared with a net gain of $8.8 million, or 17 cents per share, for the same time the previous year.
As previously announced, Brightpoint revenues and earnings for the first quarter were lower than anticipated. The company’s Asia-Pacific division recorded lower results due to its inability to procure adequate supply of product for sale, specifically in China and Taiwan.
The Latin America division increased revenues 24 percent, but revenues were negatively impacted by the devaluation of the Brazilian real. Brightpoint said its North America division continued to generate significant revenue for the company during the first quarter.
