It says it needs more time “for management to review the appropriate accounting treatment of certain non-recurring tax items.”Checkpoint Systems (NYSE: CKP) has announced that today”s planned release of fourth-quarter and full-year 2005 earnings will be postponed. The Thorofare-based company says it needs additional time “for management to review the appropriate accounting treatment of certain non-recurring tax items.”
The delay also gives the company”s independent accountants more time to complete their audit of the company, which manufactures and markets systems for retail security, labeling and merchandising purposes. Checkpoint now expects to release its fourth-quarter and year-end 2005 results on March 2.
Separately, the company announced that it has signed an agreement with French retail giant Carrefour to roll out an aggressive source-tagging program to help reduce losses due to theft. Checkpoint stock gained $0.11 to $29 in late morning trading.