CHECKPOINT SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(dollar amounts in thousands, except
per share data)
YTD
Quarter (13 weeks) Ended (39 Weeks)
-------------------------------------------------------- ----------------
March 27, June 26, September 25, September 25,
2005 2005 2005 2005
- ------------------------------------------------------------------------------------------------ ----------------
Net revenues $156,388 $185,635 $185,555 $527,578
Cost of revenues 88,263 103,621 105,529 297,413
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Gross profit 68,125 82,014 80,026 230,165
Selling, general, and administrative
expenses 60,786 60,086 55,811 176,683
Research and development 4,779 4,723 4,450 13,952
Restructuring expense -- 6,274 3,498 9,772
Litigation settlement -- -- -- --
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Operating income 2,560 10,931 16,267 29,758
Interest income 586 483 582 1,651
Interest expense 973 908 717 2,598
Other gain (loss), net 178 (47) 67 198
- ------------------------------------------------------------------------------------------------ ----------------
Earnings from continuing operations 2,351 10,459 16,199 29,009
before income taxes and minority
interest
Income taxes 539 2,895 3,260 6,694
Minority interest 23 26 39 88
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Net earnings from continuing operations 1,789 7,538 12,900 22,227
Earnings from discontinued
operations, net of tax 2,042 1,963 1,320 5,325
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Net Earnings $3,831 $9,501 $14,220 $27,552
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Basic Earnings per Share:
Net earnings from continuing operations $.05 $.20 $.34 $.58
Earnings from discontinued
operations, net of tax .05 .05 .03 .14
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Basic earnings per share $.10 $.25 $.37 $.72
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Diluted Earnings per Share:
Net earnings from continuing operations $.05 $.20 $.33 $.57
Earnings from discontinued
operations, net of tax .05 .05 .03 .14
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Diluted earnings per share $.10 $.25 $.36 $.71
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CHECKPOINT SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(dollar amounts in thousands, except
per share data)
YTD
Quarter (13 weeks) Ended (52 Weeks)
------------------------------------------------------------ -----------------
March 28, June 27, September 26, December 26, December 26,
2004 2004 2004 2004 2004
- -------------------------------------------------------------------------------------------------- -----------------
Net revenues $151,037 $163,487 $167,994 $189,040 $671,558
Cost of revenues 83,092 87,257 90,077 101,215 361,641
- -------------------------------------------------------------------------------------------------- -----------------
Gross profit 67,945 76,230 77,917 87,825 309,917
Selling, general, and
administrative expenses 56,402 58,202 56,954 65,550 237,108
Research and development 5,544 7,493 6,416 9,072 28,525
Asset impairments -- -- -- 1,968 1,968
Restructuring expense -- -- -- (3,016) (3,016)
Litigation settlement -- 19,950 -- -- 19,950
- -------------------------------------------------------------------------------------------------- -----------------
Operating income (loss) 5,999 (9,415) 14,547 14,251 25,382
Interest income 453 332 395 387 1,567
Interest expense 2,180 1,473 1,914 1,413 6,980
Other gain (loss), net 56 ( 169) (50) 382 219
- -------------------------------------------------------------------------------------------------- -----------------
Earnings (loss) from continuing 4,328 (10,725) 12,978 13,607 20,188
operations before income taxes and
minority interest
Income taxes 1,120 (2,262) 4,164 258 3,280
Minority interest 9 24 52 5 90
- -------------------------------------------------------------------------------------------------- -----------------
Net earnings (loss) from continuing 3,199 (8,487) 8,762 13,344 16,818
operations
Earnings from discontinued
operations, net of tax 2,230 2,045 1,355 (42,640) (37,010)
- -------------------------------------------------------------------------------------------------- -----------------
Net earnings (loss) $5,429 $(6,442) $10,117 $(29,296) $(20,192)
- -------------------------------------------------------------------------------------------------- -----------------
Basic Earnings per Share:
Net earnings (loss) from continuing
operations $.09 $(.22) $.23 $.35 $.46
Earnings from discontinued
operations, net of tax .07 .05 .04 (1.13) (1.01)
- -------------------------------------------------------------------------------------------------- -----------------
Basic earnings (loss) per share $.16 $(.17) $.27 $(.78) $(.55)
- -------------------------------------------------------------------------------------------------- -----------------
Diluted Earnings per Share:
Net earnings (loss) from continuing
operations $.09 $(.22) $.23 $.34 $.45
Earnings from discontinued
operations, net of tax .06 .05 .03 (1.08) (.99)
- -------------------------------------------------------------------------------------------------- -----------------
Diluted earnings (loss) per share $.15 $(.17) $.26 $(.74) $(.54)
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BUSINESS SEGMENTS
(unaudited)
(dollar amounts in thousands)
YTD
Quarter (13 weeks) Ended (39 Weeks)
------------------------------------------------------------ ---------------
March 27, June 26, September 25, September 25,
2005 2005 2005 2005
- ------------------------------------------------------------------------------------------------ ----------------
Business segment net revenue:
Security $117,434 $141,499 $146,991 $405,924
Labeling Services 15,775 21,112 18,128 55,015
Retail Merchandising 23,179 23,024 20,436 66,639
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Total Revenues 156,388 185,635 185,555 527,578
- ------------------------------------------------------------------------------------------------ ----------------
Business segment gross profit:
Security 50,650 62,817 64,486 177,953
Labeling Services 5,847 6,798 4,942 17,587
Retail Merchandising 11,628 12,399 10,598 34,625
- ------------------------------------------------------------------------------------------------ ----------------
Total gross profit $68,125 $82,014 $80,026 $230,165
- ------------------------------------------------------------------------------------------------ ----------------
YTD
Quarter (13 weeks) Ended (52 Weeks)
-------------------------------------------------------------- ---------------
March 28, June 27, September 26, December 26, December 26,
2004 2004 2004 2004 2004
- -------------------------------------------------------------------------------------------------- ---------------
Business segment net revenue:
Security $112,529 $120,666 $131,858 $144,261 $509,314
Labeling Services 14,206 18,546 14,703 18,393 65,848
Retail Merchandising 24,302 24,275 21,433 26,386 96,396
- -------------------------------------------------------------------------------------------------- ---------------
Total Revenues 151,037 163,487 167,994 189,040 671,558
- -------------------------------------------------------------------------------------------------- ---------------
Business segment gross profit:
Security 50,526 57,284 61,282 66,557 235,649
Labeling Services 4,620 6,392 4,975 6,608 22,595
Retail Merchandising 12,799 12,554 11,660 14,660 51,673
- -------------------------------------------------------------------------------------------------- ---------------
Total gross profit $67,945 $76,230 $77,917 $87,825 $309,917
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