INDIANAPOLIS-Brightpoint Inc. released positive second-quarter 2003 financial results, reflecting an upturn in demand in the Asia-Pacific region.
The company recorded revenues of $379 million, up 25 percent from the year-ago quarter, which Brightpoint attributed to strong market demand in the Asia-Pacific region, despite a slow start due to SARS, and the strengthening of foreign currencies against the U.S. dollar. Brightpoint’s net income for the quarter was $4.3 million, or 52 cents per share, improved from a loss of $5 million, or 65 cents per share, last year.
The company said it handled approximately 4.1 million wireless devices in the quarter, up 13 percent from the second quarter of 2002 and up 5 percent from the previous quarter.
Brightpoint’s stock soared up almost 25 percent following the earnings release to trade at $25.50 per share, beating the company’s previous 52-week high of $21.07.
