Philadelphia, Pennsylvania, September
13, 2010 – Checkpoint Systems, Inc.
(NYSE: CKP) today announced the
appointment of Per Levin as President, Merchandise
Visibility Solutions. This newly created
division will focus on the growing use by
retail and apparel companies of radio frequency
identification (RFID) for merchandise visibility
applications. Previously Mr. Levin
served as President, Shrink Management and
Merchandise Visibility Solutions, during
which time he helped to build Checkpoint’s
leading position in shrink management.
Leading retailers in the apparel markets
increasingly recognize the benefits to their
customers and to their businesses of incorporating
RFID technology in their operations. Doing
so helps them to improve inventory accuracy,
eliminate out-of-stocks, reduce markdowns,
reduce working capital and ultimately sell
more merchandise. Importantly, in apparel
retail, RFID can also be used as an electronic
article surveillance (EAS) device to prevent
theft.
"I am confident that the talent and
technology is now in place to win in this
emerging business process," said Rob
van der Merwe, Chairman, President and Chief
Executive Officer. "With the purchase
of OATSystems in 2008 and Brilliant Label
Manufacturing in 2009, Checkpoint acquired
two key businesses enabling the Company to
provide RFID software engineering and expanded
global label printing. These capabilities,
together with our legacy assets and global
footprint, combine to offer Checkpoint’s
customers an important end-to-end solution."
Prasad Putta, co-founder of OATSystems and
an industry leading RFID expert who was also
a founding participant at the MIT Auto-ID
Laboratory, will serve in an executive role
in the new division. Farrokh Abadi,
currently Senior Vice President and Chief
Innovation Officer, will replace Per Levin
as President, Shrink Management Solutions. The
Company will conduct an internal and external
search to fill the Chief Innovation Officer
vacancy.
Checkpoint Systems, Inc.
Checkpoint Systems is a global leader in
shrink management, merchandise visibility
and apparel labeling solutions. Checkpoint
enables retailers and their suppliers to reduce
shrink, improve shelf availability and leverage
real-time data to achieve operational excellence.
Checkpoint solutions are built upon 40 years
of RF technology expertise, diverse shrink
management offerings, a broad portfolio of
apparel labeling solutions, market-leading
RFID applications, innovative high-theft solutions
and its Web-based Check-Net® data management
platform. As a result, Checkpoint customers
enjoy increased sales and profits by improving
supply-chain efficiencies, by facilitating
on-demand label printing and by providing
a secure open-merchandising environment enhancing
the consumer’s shopping experience. For
more information, visit www.checkpointsystems.com.
Caution Regarding Forward-Looking
Statements
This press release includes information
that constitutes forward-looking statements. Forward-looking
statements often address our expected future
business and financial performance, and
often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” or “will.” By
their nature, forward-looking statements
address matters that are subject to risks
and uncertainties. Any such forward-looking
statements may involve risk and uncertainties
that could cause actual results to differ
materially from any future results encompassed
within the forward-looking statements. Factors
that could cause or contribute to such differences
include: our ability to integrate our acquisitions
and to achieve our financial and operational
goals for our acquisitions; changes in international
business conditions; foreign currency exchange
rate and interest rate fluctuations; lower
than anticipated demand by retailers and
other customers for our products; slower
commitments of retail customers to chain-wide
installations and/or source tagging adoption
or expansion; possible increases in per
unit product manufacturing costs due to
less than full utilization of manufacturing
capacity as a result of slowing economic
conditions or other factors; our ability
to provide and market innovative and cost-effective
products; the development of new competitive
technologies; our ability to maintain our
intellectual property; competitive pricing
pressures causing profit erosion; the availability
and pricing of component parts and raw materials;
possible increases in the payment time for
receivables as a result of economic conditions
or other market factors; changes in regulations
or standards applicable to our products;
the ability to implement cost reduction
in field service, sales, and general and
administrative expense, and our manufacturing
and supply chain operations without significantly
impacting revenue and profits; our ability
to maintain effective internal control over
financial reporting; and additional matters
disclosed in our Securities and Exchange
Commission filings. We do not undertake
to update our forward-looking statements,
except as required by applicable securities
laws.
COMPANY CONTACT:
Bob Powers
Vice President Investor Relations
(215) 553-8323 |