ITEM 8.01 Other Events.
This Current Report on Form 8-K is being filed to update the historical
financial statements included in Brightpoint Inc.'s (the "Company") Annual
Report on Form 10-K for the year ended December 31, 2008 (the "2008 Form 10-K"),
which was filed with the United States Securities and Exchange Commission (the
SEC) on February 25, 2009, to reflect (i) the reclassification of the results of
operations of the Company's operations in Poland and Turkey to discontinued
operations for all periods presented in accordance with U.S. generally accepted
accounting principles and (ii) the retrospective application of Statement of
Financial Accounting Standards 160, Noncontrolling Interests in Consolidated
Financial Statements - An Amendment of ARB No. 51 ("SFAS 160").
The Poland and Turkey businesses were previously reported in the Company's EMEA
reporting segment. The reclassification of these operations to discontinued
operations occurred in the first quarter of 2009.
The Company adopted SFAS 160, which is effective for fiscal years beginning
after December 15, 2008, prospectively effective January 1, 2009. However, SFAS
160 requires retrospective application to comparative financial statements. The
statement clarifies that a noncontrolling interest in a subsidiary is an
ownership interest in the consolidated entity that should be reported as equity
in the consolidated financial statements. Accordingly, the Company has revised
all comparative prior period information to reflect the presentation and
disclosure requirements of SFAS 160.
Updates to the 2008 Form 10-K provided in this Form 8-K are contained in Part I,
Item 1, "Business," Part II, Item 6, "Selected Financial Data," Part II, Item 7,
"Management's Discussion and Analysis of Financial Condition and Results of
Operations," and Part II, Item 8, "Financial Statements and Supplementary Data."
Neither this Current Report nor Exhibit 99.1 hereto reflect any events occurring
after February 25, 2009, or update the disclosure in the 2008 Form 10-K that may
have been affected by subsequent events, except as required to reflect the
effects of (i) the reclassification of the results of operations of the
Company's operations in Poland and Turkey to discontinued operations for all
periods presented, and (ii) the retrospective application of SFAS 160.
Therefore, this Current Report should be read in conjunction with the 2008 Form
10-K and the Company's filings made with the SEC subsequent to the filing of the
2008 Form 10-K, including the Company's Quarterly Report on Form 10-Q filed on
May 7, 2009.
Table of Contents
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 23.1 Consent of Independent Registered Public Accounting Firm
Exhibit 99.1 Updates to the Brightpoint, Inc. 2008 Annual Report on Form 10-K:
Part I, Item 1, Business
Part II, Item 6, Selected Financial Data
Part II, Item 7, Management's Discussion and Analysis of Financial
Condition and Results of Operations
Part II, Item 8, Financial Statements and Supplementary Data