Checkpoint Systems reports record sales for Q4, 2007

28 Feb '08

4 min read

Checkpoint Systems Inc reported financial results for the fourth quarter and year ended December 30, 2007.

Revenue for the fourth quarter of 2007 was $262.7 million, an increase of 21.4%, compared to revenue of $216.3 million in the fourth quarter of 2006. Foreign currency had a positive impact on revenue of 7.5%. Revenue from the Alpha, SIDEP and Asialco businesses, which were acquired during the fourth quarter of 2007, accounted for approximately 7.2% of the overall sales growth in the quarter.

Earnings from continuing operations for the fourth quarter were $24.5 million, or $0.60 per diluted share, compared to earnings from continuing operations of $18.6 million, or $0.46 per diluted share, in the fourth quarter of 2006.

"Checkpoint concluded its best performing year in the Company's history, reporting record financial results for the fourth quarter," said Rob van der Merwe, President and Chief Executive Officer of Checkpoint.

"Revenues for the quarter increased across all geographies, supported by recent acquisitions and organic growth within our base business, and were higher than our internal expectations. Supported by the increased revenue and ongoing focus on controlling our operating expenses, earnings from continuing operations also reached record levels, showing growth compared with the fourth quarter of the prior year. I commend George Off, the management team and our employees for doing an excellent job throughout the year."

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