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Checkpoint Systems, Inc. Announces Fourth Quarter And Full-Year 2012 Results

Stock quotes in this article: CKP

CheckView ®

Mr. Babich commented, “Following an extensive review of Checkpoint's portfolio in 2012, the company's Board of Directors determined that the U.S. and Canadian CheckView ® business will better serve its customers as an independent, entrepreneurial and more focused organization. An investment banker has been engaged to assist in the sale of the CheckView ® business and discussions are taking place with a potential buyer interested in leveraging the expertise, customer relationships, retail monitoring center and other assets residing in CheckView ® in a strong and nimble standalone platform. Checkpoint will continue to pursue its redefined strategy to provide solutions that improve merchandise availability in retail stores. I am confident that this divestiture will enable focused attention and investment in both the CheckView ® business and Checkpoint's core businesses, which in turn will yield the best results for our customers. Checkpoint is dedicated to support CheckView ® throughout the sale process and the CheckView ® team is 100% committed to ensure an orderly transition with full continuity of service to our customers.”

Mr. Babich concluded, “With the turnaround well underway, we ended 2012 stronger than we began. Today, our organization is correctly aligned to support each of our ongoing lines of business. Managers are being equipped with the tools they need to gain greater visibility into their businesses to drive improved performance. Throughout the organization, we will continue to make productivity improvements to make us more efficient and nimble. And, most importantly, we remain committed to invest prudently in the businesses and technologies that help lead to profitable growth.”

“Looking ahead, retailers all over the world have the same fundamental need to have available sufficient quantity and selection of merchandise to enable consumers to buy what they want when they want to shop. Checkpoint's strength lies in developing solutions for enterprise-wide application, to help retailers track and protect their merchandise and ultimately sell more. Our Merchandise Visibility™ business, which includes RFID solutions for inventory management, performed well in 2012 and is gaining momentum as we enter 2013. We believe our solution set is second to none and we look forward to expanding this business with new and existing customers in 2013. While we have much left to do, I am excited about our prospects going forward.”

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