Checkpoint Systems Inc. (NYSE:CKP) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 13.26%.
Checkpoint Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.11 in the quarter versus EPS of $-0.22 in the year-earlier quarter.
Revenue: Decreased 13.31% to $172 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Checkpoint Systems Inc. reported adjusted EPS income of $0.11 per share. By that measure, the company missed the mean analyst estimate of $0.18. It beat the average revenue estimate of $171.05 million.
Quoting Management: Checkpoint Systems’ President and Chief Executive Officer, George Babich, said, “Revenues in the quarter tracked in line with our expectations. The main drivers of revenue continued to be worldwide installations of electronic article surveillance (EAS) systems. In addition, increased demand drove better than expected sales in our Hard Tag @ Source™ program and EAS consumables. Offsetting this was lower demand for our Alpha® high-theft solutions as certain customers temporarily pulled back orders in the quarter and an expected decrease in our non-strategic library business due to the expiration of a licensing agreement in the U.S.”
Key Stats (on next page)…