11/11/2009 5:11:00 PM
Brightpoint reports 26% decline in revenue in Q3 results
Brightpoint has reported a 26% decline in revenues year on year, for the third quarter ended 30 September 2009.
The company’s EBITDA also fell by almost 30% on the previous year, from $24.4m (£14.7m) to $17.1m (£10.3m).
However, the number of units handled by Brightpoint increased by 1.5 million – from 20.1 million to 21.6 million when compared with the same period last year.
The distributor claimed the lower revenue was a result of an 11% decrease in wireless devices handled through distribution, as well as lower average selling price for wireless devices.
Brightpoint chairman of the board and CEO Robert J. Laikin said: ‘I am pleased with our third quarter results in what continues to be an extremely challenging economic environment. In addition to our focus on operating our business in the most disciplined financial manner, we are focused on implementing our Europe strategy, which revolves around two significant initiatives: building “centers of excellence” and creating a “shared services center”.
‘By executing the successful rollout of these plans, we will be positioned as a leading provider of customised logistics in Europe with capabilities quite similar to what we have developed in the Americas and Asia-Pacific. Growing volumes of more predictable, higher margin and lower risk supply chain solutions business will help create an optimal balance between distribution and customised logistics business models in Europe.’
Meanwhile, Brightpoint has changed its management structure and has appointed Ryan Willman as controller of Europe, the Middle East and Africa and Anurag Gupta as president of the same area.
Gupta will be replacing Anthony Boor, Brightpoint executive VP, chief financial officer and treasurer who has been working as interim EMEA president.