Home / Knowledge / News / Information Technology / Checkpoint Systems Q2 sales fall 3.1%
Checkpoint Systems Q2 sales fall 3.1%
06
Aug '13
Checkpoint Systems, Inc. reported financial results for the second quarter ended June 30, 2013.

Second Quarter GAAP Results:

Net revenues from continuing operations in the second quarter of 2013 decreased 3.1%, 2.5% on a constant dollar basis, to $172.0 million from $177.6 million in the second quarter of 2012. During the quarter, gross profit margins were 40.5% compared with 39.7% in the 2012 second quarter.

Selling, general, and administrative (SG&A) expenses in the second quarter of 2013 decreased $8.4 million or 12.8% to $56.9 million from $65.2 million in the second quarter of 2012. The second quarter of 2013 included approximately $8.6 million of additional cost reductions from the global restructuring programs and continued tight expense control.

Operating income in the second quarter of 2013 was $6.5 million compared with an operating loss of $84.5 million in the same period last year. Operating expenses in the second quarter of 2013 included restructuring expenses ($1.6 million), management transition expenses ($1.2 million), and Shore to Shore acquisition costs associated with ongoing arbitration ($0.3 million).

These expenses were partially offset by the gain on sale of our interest in the non-strategic Sri Lanka subsidiary ($0.2 million). The second quarter of 2012 loss included goodwill impairment charges ($64.4 million), restructuring expenses ($21.3 million), management transition expenses ($2.9 million), and acquisition costs ($0.1 million).

Foreign exchange loss was $2.0 million during the second quarter of 2013 compared to $0.4 million during the second quarter of 2012. The increased foreign exchange loss is primarily attributed to dollar fluctuations versus currencies in emerging markets where hedging is either impossible or impractical.

Net earnings from continuing operations during the second quarter of 2013 were $0.03 per diluted share compared with a loss of $2.24 per diluted share in the same period last year.

Click here to read full results

Checkpoint Systems

Must ReadView All

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Kerem Durdag
Biovation II LLC

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

Urs Stalder
Sanitized AG

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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