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CHECKPOINT REPORTS RECORD FIRST QUARTER REVENUES, EARNINGS GAIN

 CHECKPOINT REPORTS RECORD FIRST QUARTER REVENUES, EARNINGS GAIN
 THOROFARE, N.J., April 9 /PRNewswire/ -- Checkpoint Systems, Inc. (NASDAQ: CHEK), today reported record revenues and a rise in earnings for the first quarter ended March 29, 1992. First quarter net revenues rose 35 percent to $14,222,000 from $10,512,000 for the first three months of 1991. Net earnings for the first three months of the year were $150,000 or 2 cents per share, compared to a net loss of $383,000 or 4 cents per share in last year's first quarter.
 A. E. Wolf, president and chief executive officer, reported, "Our record first quarter sales are confirmation that the strategies implemented during 1991 to gain market share are working. Every distribution channel and product line showed an increase over comparable performance in 1991. Sales to domestic retailers produced a 63 percent increase and all other channels recorded double digit increases. Virtually all of our major product lines posted growth rates of over 30 percent compared to 1991 performance."
 Wolf further stated that "an aggressive competitive strategy to leverage our position as the low cost producer of disposable security circuits is the primary reason our gross profit was down 6 percent from last year's first quarter. This was not unexpected. However, as our volume continues to grow, our manufacturing efficiencies will improve. The end result will be margins approaching past performances, but with a much larger share of the market," he noted.
 "In summary, we are right on plan. The benefit retailers are assigning to the initial phases of the implementation of the Impulse(SM) program, in which security circuits are embedded into products or packaging before they reach the stores, is making Checkpoint an obvious choice. This, combined with aggressive market share strategies and an increasing expansion of our product line to meet all of our customers' security and merchandising needs, has significantly strengthened our position in the market," Wolf concluded.
 Checkpoint Systems, Inc., is the leading developer and manufacturer of advanced microprocessor and radio frequency-based merchandising and security systems.
 The company bases its Electronic Article Merchandising(SM) (EAM(SM)) and Electronic Access Control (EAC) systems on Electronic Signatures(R) technology which makes unique radio signals assignable to items or people. Using detectable, paper thin, disposable circuits that can be activated or deactivated without contact, the company has more than 60,000 EAM systems installed worldwide. Checkpoint's Threshold EAC systems employ proximity technology for personnel identification in security sensitive environments to control and monitor access to locations and equipment.
 CHECKPOINT SYSTEMS, INC.
 Operating Results (unaudited)
 (Thousands, except per share data)
 Quarter (13 weeks) ended 3/29/92 3/31/91
 Net revenues $14,222 $10,512
 Cost of revenues 7,795 5,177
 Gross profit 6,427 5,335
 Selling, general and admin. expenses 6,200 5,801
 Interest income 52 49
 Interest expense 94 62
 Income (loss) before income taxes 185 (479)
 Income taxes (benefit) 35 (96)
 Net earnings (loss) $ 150 $ (383)
 Net earnings (loss) per share $.02 $(.04)
 Weighted average number of
 common and common equivalent shares 9,815 9,426
 -0- 4/9/92
 /CONTACT: Steven G. Selfridge of Checkpoint, 800-257-5540, ext. 2473/
 (CHEK) CO: Checkpoint Systems, Inc. ST: New Jersey IN: SU: TRN


GK-OS -- NY029 -- 6680 04/09/92 10:27 EDT
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Publication:PR Newswire
Date:Apr 9, 1992
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