Brightpoint adjusted profit may meet or beat market

(Reuters) - Brightpoint Inc (CELL.O), a distributor of wireless devices, forecast second-quarter adjusted profit in line with or above market expectations, but gave revenue outlook below analysts' view.

For the quarter ended June 30, the distributor of mobile handsets and other devices, expects adjusted income from continuing operations, excluding special items, of 7 cents to 13 cents per share.

On a GAAP basis, the company expects a breakeven to a profit of 6 cents per share, compared with a loss of 3 cents a year ago.

Revenue is expected to drop about 40 percent to between $722 million and $727 million.

Analysts on average were expecting the company to earn 7 cents a share, excluding special items, on revenue of $780.5 million, according to Reuters Estimates.

Brightpoint also said one of its shareholders, NC Telecom Holding A/S, would offer 15 million common shares in a public offering, with an over-allotment option of 2.25 million shares.

Shares of the company closed at $5.84 Friday on Nasdaq.

(Reporting by Mansi Dutta in Bangalore; Editing by Gopakumar Warrier)