This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Checkpoint Systems, Inc. Announces Third Quarter 2013 Results

Stocks in this article: CKP

Checkpoint Systems, Inc. (NYSE: CKP) today reported financial results for the third quarter ended September 29, 2013.

Third Quarter GAAP Results:

Net revenues from continuing operations in the third quarter of 2013 increased 3.3%, to $174.5 million from $168.8 million in the third quarter of 2012. During the quarter, gross profit margins were 40.3% compared with 40.7% in the 2012 third quarter. Foreign currency translation effects resulted in a $0.4 million or 0.2% increase in net revenues.

Selling, general, and administrative (SG&A) expenses in the third quarter of 2013 decreased $5.9 million or 10.4% to $51.0 million from $56.9 million in the third quarter of 2012. The third quarter of 2013 included approximately $10.0 million ($6.9 million in SG&A) of additional cost reductions from the global restructuring initiatives and continued tight expense control. Operating expenses in the third quarter of 2013 included restructuring expenses ($0.9 million) and Shore to Shore acquisition costs associated with ongoing arbitration ($0.3 million) compared to the third quarter of 2012, which included restructuring expenses ($4.1 million) and acquisition costs ($17 thousand). Foreign currency translation effects resulted in a $0.7 million or 20.6% decrease in operating income.

Operating income in the third quarter of 2013 was $13.7 million, $10.4 million higher when compared with $3.3 million in the same period last year.

Foreign exchange transaction loss in the third quarter of 2013 was $1.1 million compared with foreign exchange gain of $0.3 million in the third quarter of 2012. The increased foreign exchange transaction loss is primarily attributed to U.S. Dollar and Euro fluctuations versus currencies in emerging markets where hedging is either impossible or impractical. Where hedging is possible and the cost is practical, the Company's practice is to hedge at least 75% of the net exposures.

Net earnings from continuing operations in the third quarter of 2013 were $0.18 per diluted share, $0.28 per share higher when compared with a net loss of $0.10 per diluted share in the same period last year.

1 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs