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

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Top executives
Textile industry

The foremost issue is bridging the skill gap

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Urs Stalder
Sanitized AG

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

Marcel Alberts
Eurofibers

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

Robert Brunner
Devereux

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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