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
So what: Revenue was $1.37 billion, which was a 23% jump compared to last year, while non-GAAP earnings per share added up to $0.16. Despite the fact that revenue exceeded expectations, the bottom line came in $0.05 short of the $0.21 per-share profit that the market was looking for.
Now what: Unfortunately, Brightpoint had to lower full-year guidance due to a challenging environment. It had previously predicted a full-year non-GAAP profit of $1.07 to $1.13 per share, but is now toning that down to a new range of $0.98 to $1.04 per share. CEO Robert Laikin said Brightpoint's customers and vendor partners saw competitive and economic pressures, which hurt the quarter's results.
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. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.