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

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Kerem Durdag
Biovation II LLC

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

Johan Berlin
InvestKonsult Sweden AB

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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