Brightpoint Shares Got Destroyed: What You Need to Know

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Brightpoint (Nasdaq: CELL  ) got destroyed today, down by as much as 19%, after the company reported earnings last night.

So what: Fourth quarter revenue totaled $1.56 billion, with earnings per share of $0.34. Both figures topped the market's expectations, which called for $1.39 billion in sales and a $0.33 per share profit.

Now what: CEO Robert Laikin said the company is well positioned to benefit from smartphone trends within the broader wireless industry, as it provides device-lifecycle services. What's really weighing on investors is that the company cut its fiscal year 2012 earnings outlook. It lowered its adjusted earnings-per-share forecast from between $1.08 to $1.20 to a new range of $1.07 to $1.17.

Interested in more info on Brightpoint? Add it to your Watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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