Checkpoint Systems: RFID-Wert mit sinkenden Gewinnen - 500 Beiträge pro Seite

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Checkpoint Systems, Inc. Announces Second Quarter 2006 Results

THOROFARE, N.J.--(BUSINESS WIRE)--July 27, 2006--Checkpoint Systems, Inc. (NYSE: CKP) today reported financial results for the second quarter ended June 25, 2006.

For the second quarter 2006, the Company reported earnings from continuing operations of $5.2 million, or $0.13 per diluted share, compared to earnings from continuing operations of $7.5 million or $0.20 per diluted share in the second quarter of 2005. Included in earnings from continuing operations for the second quarter of 2006 is a charge of $0.01 per diluted share related to the Company\'s restructuring initiatives in Europe and a charge of $0.04 per diluted share related to settlement of the follow-on class action complaints that arose in connection with the ID Security Systems Canada Inc. litigation, as previously announced. In the second quarter of 2005, earnings from continuing operations included a charge of $0.11 per diluted share related to the Company\'s restructuring initiatives.

\"Clearly we are disappointed in our results for the second quarter of 2006, as overall revenue in the quarter declined 10.5% on a constant dollar basis, which was below our expectations,\" said George Off, Chairman and Chief Executive Officer of Checkpoint. \"In the first half of the year we have been implementing a number of strategic initiatives to streamline our business, including the transition of the barcode systems business to SATO, restructuring activities in Europe, new EAS label manufacturing processes, and the transfer of electronics assembly operations to lower-cost facilities. The benefits of these initiatives have not yet been fully realized.

\"The revenue decline in the second quarter of 2006 is primarily due to a shortfall in our security business, which declined 16.9% in the quarter. This was a result of weaker than expected performance in Europe and the U.S., and expected difficult year-over-year comparables within our U.S. EAS business. While we continue to see opportunities to convert large chain retailers to radio frequency EAS, large account commitments did not materialize at the anticipated pace. We continue to see the negative impact on revenues from the restructuring of sales operations in Europe, particularly in France. We also saw a 12.2% decrease in revenue from our retail merchandising segment, primarily in Europe.

\"A bright spot was our CheckNet(R) service bureau business, where the success of our integrated security tagging solutions continues to drive solid results. CheckNet(R) service bureau revenue increased 25.6% or $4.6 million on a constant dollar basis during the second quarter.\"

Mr. Off continued \"We are going to step up efforts to improve our top line performance in the second half of the year, while also continuing to take actions to right size our cost structure. We will be intensifying our focus on eliminating costs that do not translate into improved revenue and gross margin. At the end of the second quarter of 2006, global headcount was down approximately 16% from the end of the first quarter of 2005. Since that time, headcount has been reduced by 564 employees, including 374 that were transferred to SATO with the sale of the BCS business. We expect to record further restructuring charges throughout the year.\"

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