Checkpoint Systems Misses Estimates
Checkpoint Systems
(CKP)
missed Wall Street's estimates in the latest fourth quarter, but the bottom line rose sharply from the year-ago period.
The company, which makes labeling, barcoding and retail security systems, reported earnings of $9.5 million, or 28 cents a share. Two analysts queried by
First Call/Thomson Financial
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expected earnings of 30 cents a share. In the year-ago period, Checkpoint earned $3.2 million, or 11 cents a share.
Revenue for the quarter rose to $188.3 million from $111.6 million last year. The company expects revenue to rise 3% to 4% in 2001, though the slowing economy and volatile exchange rates could hold that number down.
Checkpoint, which is based in Thorofare, N.J., projected earnings of 95 cents to $1 a share for 2001. Analysts expect a profit of 98 cents.
In recent
New York Stock Exchange
trading, Checkpoint lost 5 cents, or 0.6%, to $9.10.
