Home / Knowledge / News / Apparel/Garments / Checkpoint Systems net revenue drops 12.5% in Q3 2012
Checkpoint Systems net revenue drops 12.5% in Q3 2012
05
Nov '12
Checkpoint Systems Inc. reported financial results for the third quarter ended September 23, 2012.

Net revenues decreased 12.5%, 7.8% on a constant currency basis, to $188.2 million from $215.1 million in the third quarter 2011. The Company reported a loss of $0.13 per diluted share, compared with a loss of $1.20 per diluted share in the same period last year.

The Company reported adjusted non-GAAP operating income of $7.6 million in the third quarter of 2012, compared with $10.4 million in the year-earlier quarter, which included $2.6 million of other operating income due to the sale of customer-related receivables associated with the renewal and extension of sales type lease arrangements.

The Company completed the sale of its Banking Security Systems Integration business unit on October 1.

Checkpoint Systems' interim Chief Executive Officer and President, George Babich, said, "Despite lower revenue in the third quarter, gross profit margins improved slightly versus last year and increased 160 basis points over the second quarter. SG&A expenses decreased by $7.9 million, or 11.6% compared with the same period last year driven by $3.6 million of incremental savings from the restructuring programs we have in place and tight expense control."

Mr. Babich continued, "Last quarter I announced a newly refined strategic direction for Checkpoint. Our goal is to transition from a product-driven merchandise protection business to a provider of solutions that give retailers ready insight into the on-shelf availability of merchandise in their stores."

Click here to read more details:

Checkpoint Systems Inc


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search