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Actionable news in CKP: CHECKPOINT SYSTEMS Inc,

During the preparation of the third quarter financial

in the accounting for the Companys quarterly income tax provision. Accordingly, investors should no longer rely upon the Companys previously-issued financial statements for these periods and any earnings releases or other Company communications relating to these periods.

The Company intends to restate its previously-issued financial statements for the quarterly periods ended March 29, 2015 and June 28, 2015 and the six month period ended June 28, 2015 through the filing of amended Quarterly Reports on Form 10-Q/A for the quarterly periods ended March 29, 2015 and June 28, 2015. These amended Quarterly Reports on Form 10-Q/A will be filed with the Securities and Exchange Commission (SEC) as soon as possible.

Based on our assessment to date, we expect the key impacts on our previously reported results for the first and second quarters of fiscal 2015 to be as follows:

Quarter ended March 29, 2015: increase in tax expense of $1.8 million, increase in net loss of $1.8 million, and decrease in diluted earnings per share of $0.04;

Quarter ended June 28, 2015: increase in tax expense of $4.1 million, increase in net loss of $4.1 million, and decrease in diluted earnings per share of $0.10; and

Year-to-date ended June 28, 2015: increase in tax expense of $5.9 million, increase in net loss of $5.9 million, and decrease in diluted earnings per share of $0.14.

Although the Audit Committee believes that the effect of these errors on the previously-issued interim financial statements for fiscal 2015 specified above is material, the Company expects that the errors in the accounting for the Companys quarterly income tax provision:

Have no effect on the cash position of the Company for any period;

Have no impact on previously reported (loss) earnings before tax for any period;

Have no impact on the Companys previously reported EBITDA for any period;

Primarily correct the phasing of non-cash tax expense between the first two quarters of the 2015 fiscal year with no bearing on 2015 expected cash tax expense; and

Result in no required change to interim or annual periods for the fiscal year ended December 28, 2014 or any prior period.

The statements above regarding the expected effects of the restatement constitute forward-looking statements that are based on the Companys current expectations. The actual...


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