Home / Knowledge / News / Information Technology / Revenues at Checkpoint Systems slide 12.8% in Q1FY15
Revenues at Checkpoint Systems slide 12.8% in Q1FY15
11
May '15
Revenues in the first fiscal quarter ended March 29, 2015 slid 12.8 per cent year over year at Checkpoint Systems, a developer of solutions for the retail industry like loss prevention, etc.

According to a Checkpoint press release, its sales dipped to $128.5 million, down 12.8 per cent from $147.4 million in the first quarter of fiscal 2014.

“Foreign currency translation effects resulted in an $11.5 million or 7.8 per cent decrease in net revenues,” Checkpoint said.

During the reporting quarter, gross profit margins grew to 44.0 per cent, an increase of more than 170 basis points compared to the same period last year.

Selling, general, and administrative (SG&A) expenses in the first quarter of 2015 slipped 3.0 million, or 5.6 per cent year on year to $51.3 million.

Operating loss in the quarter under review amounted to $0.3 million as against net income of $2.2 million same period last fiscal.

For the first quarter of fiscal 2015, net loss per diluted share stood at $0.02, versus nil per diluted share in the first quarter of fiscal 2014.

Despite lower revenue driven by foreign currency headwinds and the sunset of its significant 2014 EAS hardware rollouts, Checkpoint added that it reported its highest first quarter gross profit margin in 21 years.

CEO George Babich said, “As we previously outlined, 2015 will be a challenging year as we work to secure our next significant rollout and begin to drive organic revenue growth.”

“We are making good progress on both fronts, and I am gaining confidence that we will secure at least one signed contract for an additional new hardware rollout beginning later this year,” he too added.

“I am also encouraged that our spending on certain strategic initiatives will begin to take root in 2016,” he observed.

In the first quarter, Checkpoint significantly increased its rate of investment year-over-year in both R&D and capital expenditures, both of which were up $0.7 million and $2.5 million, respectively.

SG&A spending in constant dollar terms is up nearly $1 million as well, although masked by the $4 million SG&A benefit from foreign currency translation effects.

It has also added strategic headcounts in sales and product management to target underserved vertical markets.

It has engaged consultants to complement its in-house expertise to focus on its supply chain optimisation project.

“We have invested in new equipment and IT systems to enhance our capabilities and increase automation in our Apparel Labeling business,” Babich informed. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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:
March 2017

March 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