Checkpoint Systems Q2 Net Loss Shrinks; Backs FY Earnings View - Quick Facts

(RTTNews) - Checkpoint Systems, Inc.'s (CKP) second-quarter net loss attributable to the company reduced significantly to $13.07 million, or $0.31 a share, from a $94.16 million, or $2.30 a share loss, last year. Quarterly net earnings from continuing operations amounted to $1.31 million, or $0.03 a share, as against a loss of $91.83 million, or $2.24 a share in the same period prior year.

On a non-GAAP basis, net loss for the latest quarter stood at $9.8 million, or $0.23 a share. On average, 3 analysts polled by Thomson Reuters expected earnings per share of $0.18 for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues from continuing operations in the period slid 3.1%, 2.5% on a constant dollar basis, to $172.0 million, from $177.6 million in the 2012 second quarter. Analysts estimated revenues of $171.05 million for the quarter.

Looking ahead, the company confirmed its 2013 non-GAAP earnings per share guidance in the range of $0.65 - $0.75; while net revenues are now expected in the range of $685 million - $700 million, versus its earlier range of $675 million - $695 million. Two analysts project earnings of $0.70 per share, and revenue of $680.90 million for 2013.