EX-99.1 2 c99974exv99w1.htm CONSOLIDATED STATEMENTS OF OPERATIONS exv99w1
 

Exhibit 99.1
BRIGHTPOINT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
(Unaudited)
                         
    Three Months Ended  
    March 31,     June 30,     September 30,  
    2005     2005     2005  
Revenue
                        
Distribution revenue
   $ 401,388     $ 431,551     $ 470,961  
Logistic services revenue
     63,686       67,943       74,014  
 
                  
Total revenue
     465,074       499,494       544,975  
 
Cost of revenue
                        
Cost of distribution revenue
     385,029       416,758       453,956  
Cost of logistic services revenue
     52,840       53,222       59,341  
 
                  
Total cost of revenue
     437,869       469,980       513,297  
 
Gross profit
     27,205       29,514       31,678  
 
Selling, general and administrative expenses
     18,207       20,461       20,657  
Facility consolidation charge (benefit)
     1,203       —       (270 )
 
                  
Operating income from continuing operations
     7,795       9,053       11,291  
 
Interest expense (income), net
     81       (65 )     140  
Net other expenses
     144       258       129  
 
                  
Income from continuing operations before income taxes
     7,570       8,860       11,022  
 
Income tax expense
     2,429       2,188       2,749  
 
                  
Income from continuing operations
     5,141       6,672       8,273  
 
Discontinued operations:
                        
Loss from discontinued operations
     (2,605 )     (1,770 )     (15,452 )
Gain (loss) on disposal of discontinued operations
     337       (3 )     997  
 
                  
Total discontinued operations
     (2,268 )     (1,773 )     (14,455 )
 
                  
Net income (loss)
   $ 2,873     $ 4,899     $ (6,182 )
 
                  
 
Basic per share:
                        
Income from continuing operations
   $ 0.19     $ 0.25     $ 0.31  
Discontinued operations
     (0.08 )     (0.07 )     (0.54 )
 
                  
Net income (loss)
   $ 0.11     $ 0.18     $ (0.23 )
 
                  
 
Diluted per share:
                        
Income from continuing operations
   $ 0.19     $ 0.24     $ 0.30  
Discontinued operations
     (0.09 )     (0.06 )     (0.52 )
 
                  
Net income (loss)
   $ 0.10     $ 0.18     $ (0.22 )
 
                  
 
Weighted average common shares outstanding:
                        
Basic
     26,561       26,471       26,580  
 
                  
Diluted
     27,559       27,344       27,553  
 
                  

 

 

BRIGHTPOINT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
(Unaudited)
                                 
    Three Months Ended  
    March 31,     June 30,     September 30,     December 31,  
    2004     2004     2004     2004  
Revenue
                                
Distribution revenue
   $ 368,585     $ 389,508     $ 362,831     $ 402,793  
Logistic services revenue
     52,835       55,342       69,228       71,302  
 
                        
Total revenue
     421,420       444,850       432,059       474,095  
 
Cost of revenue
                                
Cost of distribution revenue
     355,625       374,995       349,564       383,935  
Cost of logistic services revenue
     44,291       46,064       56,628       56,558  
 
                        
Total cost of revenue
     399,916       421,059       406,192       440,493  
 
Gross profit
     21,504       23,791       25,867       33,602  
 
Selling, general and administrative expenses
     16,415       17,040       17,410       18,568  
Facility consolidation charge (benefit)
     —       (215 )     —       (21 )
 
                        
Operating income from continuing operations
     5,089       6,966       8,457       15,055  
 
Interest expense (income), net
     44       34       59       (174 )
Net other expenses
     490       383       229       424  
 
                        
Income from continuing operations before income taxes
     4,555       6,549       8,169       14,805  
 
Income tax expense
     1,414       1,748       2,547       4,543  
 
                        
Income from continuing operations
     3,141       4,801       5,622       10,262  
 
Discontinued operations:
                                
Loss from discontinued operations
     (1,128 )     (427 )     (860 )     (1,928 )
Loss on disposal of discontinued operations
     (4,234 )     (410 )     (215 )     (854 )
 
                        
Total discontinued operations
     (5,362 )     (837 )     (1,075 )     (2,782 )
 
                        
Net income (loss)
   $ (2,221 )   $ 3,964     $ 4,547     $ 7,480  
 
                        
 
Basic per share:
                                
Income from continuing operations
   $ 0.11     $ 0.17     $ 0.21     $ 0.38  
Discontinued operations
     (0.19 )     (0.03 )     (0.04 )     (0.10 )
 
                        
Net income (loss)
   $ (0.08 )   $ 0.14     $ 0.17     $ 0.28  
 
                        
 
Diluted per share:
                                
Income from continuing operations
   $ 0.11     $ 0.16     $ 0.20     $ 0.37  
Discontinued operations
     (0.18 )     (0.03 )     (0.04 )     (0.10 )
 
                        
Net income (loss)
   $ (0.07 )   $ 0.13     $ 0.16     $ 0.27  
 
                        
 
Weighted average common shares outstanding:
                                
Basic
     28,905       28,574       26,915       26,937  
 
                        
Diluted
     29,911       29,434       27,796       27,854