The brother of Brightpoint (CELL) CFO Anthony Boor must be feeling pretty special these days. That’s because the staffing company that this brother co-owns — the brother’s name, nor the name of the company are ever mentioned in any of the filings — rang up $6.6 million in business from Brightpoint last year. That’s a significant increase from the $2.35 million in business Boor’s brother’s staffing company rang up in 2004, which according to the filing, was the first year that Brightpoint used the brother’s company.
It’s not clear why Brightpoint, which first disclosed this deal in the K it filed last month, didn’t mention the brotherly love in any of last year’s filings. In the current K, the company said it had 2,115 temporary workers as of the end of 2005, which it uses for "distribution activities and logistic services". That’s compared to the 715 temporary workers it had at the end of 2004. Doing some quick back-of-the-envelope math, that works out to roughly $3,200 in revenue per temporary worker.
P.S.: If you missed me on yesterday’s Marketplace, you can listen to it here.