Home / Knowledge / News / Information Technology / Checkpoint sales rise 3.2% in Q1
Checkpoint sales rise 3.2% in Q1
08
May '13
Checkpoint Systems, Inc. reported financial results for the first quarter ended March 31, 2013. These results reflect the U.S. and Canadian CheckView business as discontinued operations.

First Quarter GAAP Results - Continuing Operations:

Net revenues from continuing operations in the first quarter of 2013 increased 3.2%, 3.8% on a constant dollar basis, to $148.8 million from $144.2 million in the first quarter of 2012. Gross profit margins were 36.2% compared with 36.8% in the 2012 first quarter.

Selling, general and administrative (SG&A) expenses of $55.3 million decreased by $10.3 million, or 15.7% compared with the same period last year, driven by $9.6 million of additional cost reductions from the global restructuring programs, as well as continued tight expense control.

The operating loss of $1.3 million improved $18.2 million from the same period last year. The 2013 loss included restructuring expenses and acquisition costs offset by the reversal of a litigation settlement reserve associated with a patent infringement lawsuit.

The acquisition costs are due to legal costs incurred in connection with ongoing arbitration of an EBITDA contingent payment related to the acquisition of the Shore to Shore businesses in May 2011. The 2012 loss included restructuring expenses, legal and forensic costs that resulted from the investigation of fraud in our Canadian subsidiary, and acquisition costs.

Net loss from continuing operations was $0.09 per diluted share compared with a loss of $0.26 per diluted share in the same period last year.

First Quarter Adjusted non-GAAP Operating Income and Earnings per Share - Continuing Operations:

Adjusted non-GAAP operating loss from continuing operations was $5.7 million in the first quarter of 2013, compared with a loss of $17.0 million in the same period last year. Adjusted non-GAAP net loss from continuing operations was $0.21 per share compared with a net loss from continuing operations of $0.21 per share in the first quarter of 2012.

The 2013 results exclude the impact of restructuring expenses, acquisition costs, and the reversal of a litigation settlement reserve. The 2012 results exclude the impact of restructuring expenses, legal and forensic costs that resulted from the investigation of fraud in our Canadian subsidiary, and acquisition costs.

Unlike the first quarter of 2012, first quarter 2013 results do not include the tax benefit on losses from U.S. operations due to a change in tax accounting methodology that we first began to apply in the second quarter of 2012.

Checkpoint Systems

Must ReadView All

Apparel/Garments | On 1st Mar 2017

CMAI's Apparel Index for Q3 shows lowest growth at 1.4 pts

CMAI’s Apparel Index for the third quarter FY 2016-17 shows that the...

Courtesy: Carter

Apparel/Garments | On 1st Mar 2017

Kidswear retailer Carter’s acquires Skip Hop Holdings

US headquartered kidswear retailer Carter’s said it has acquired Skip ...

Courtesy: Lectra

Information Technology | On 1st Mar 2017

Lectra makes new strategy for fashion in Industry 4.0 era

Lectra, the world leader in integrated technology solutions, has...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

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

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search