Brightpoint Updates Financial Guidance for the Fourth Quarter of 2002.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Jan. 31, 2003 Brightpoint, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CELL) expects to announce income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the within a range of $2.8 million to $3.1 million, or $0.35 to $0.38 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share for the quarter ended December 31, 2002. This compares to previous guidance of income from continuing operations within a range of $1 million to $2 million, or $0.12 to $0.25 per share. Revenue is estimated at approximately $342 million which is an increase of 1% from the third quarter of 2002 and an increase of 6% from the fourth quarter of 2001. The revenue amount stated and comparisons made exclude the results of Brightpoint's Mexico operations, which have been reclassified to discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . The Company expects to report a loss during the fourth quarter of 2002 in discontinued operations (net of taxes) within a range of $2.0 million to $2.5 million, or $0.25 per share to $0.31 per share, which loss is primarily composed of a loss attributable to the sale of certain assets and shares of one of its subsidiaries in its Mexico operations. The Company previously estimated a loss related to the Mexico transaction of $4.5 million to $5.0 million less a tax benefit of $1.4 million and now the Company expects to report a loss of $5.0 million less a tax benefit of $3.4 million. The Company will provide details of its financial performance for the quarter ended December 31, 2002 and financial results for the year ended on December 31, 2002 in its press release and subsequent earnings conference call scheduled for February 6, 2003. The conference call instructions were provided in the Company's press release issued on January 22, 2003 and are repeated below: The conference call can be accessed through the Investors section of the Company's website at www.brightpoint.com. For those who prefer to join the conference call telephonically, use the following information and dial in several minutes prior to the start of the call:
February 6, 2003 5:00 p.m. EST
U.S. toll-free dial-in number 800.289.0569
International dial-in number +913.981.5542
The conference call will be archived on the Company's website for a period of fifteen (15) days after the call. Brightpoint is one of the world's largest distributors of mobile phones. Brightpoint supports the global wireless telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and data industry, providing quickly deployed, flexible and cost effective third party solutions. Brightpoint's innovative services include distribution, channel management, fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. , eBusiness solutions and other outsourced services that integrate seamlessly with its customers. Additional information about Brightpoint can be found on its website at www.brightpoint.com or by calling its toll-free Investor Relations Investor relations The process by which the corporation communicates with its investors. Information line at 877-IIR-CELL (877-447-2355). Certain information in this press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future events or the future performance of Brightpoint. These statements are only predictions and actual events or results may differ materially. Please refer to the documents the Company files, from time to time, with the Securities and Exchange Commission; specifically, Brightpoint's most recent Form 10-Q Form 10-Q See 10-Q. and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Exhibits 99, thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. . These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. These risk factors include, without limitation, changes in estimates and judgments inherent in the preparation of the final financial statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date these statements were made. Brightpoint undertakes no obligation to update any forward-looking statements contained in this press release. |
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