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Fourth-quarter profit increased sharply for Brightpoint Inc.
The Plainfield cell phone distributor reported late yesterday that earnings of $14.9 million were up more than 53 percent from a year earlier as it benefited from its acquisition of Denmark-based Dangaard Telecom.
Profit from continuing operations of $14.1 million improved from the $10 million in the year-ago period.
For the year, Brightpoint profit increased to $47.4 million from $35 million in 2006.
CEO Bob Laikin said in a statement that he was pleased with the fourth-quarter results and that he expects the company to grow faster than global demand for handsets.
Brightpoint shares fell 4.8 percent, to $11.89, this morning.
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