To discuss appointment of Jeff Richard as Chief Financial Officer

Checkpoint Systems Inc. announced the appointment of Jeff Richard as Executive Vice President and Chief Financial Officer, effective May 28, 2013. Mr. Richard will replace Raymond D. Andrews who is retiring from Checkpoint on July 31, 2013. Mr. Andrews will remain with the company in the interim to ensure an orderly transition of responsibilities. Richard, most recently serving as Executive Vice President and Chief Financial Officer at Safety-Kleen Systems Inc.

Checkpoint Systems Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported operating loss of $1,302,000, loss from continuing operations before income taxes of $3,507,000, net loss from continuing operations of $3,786,000 or $0.09 diluted loss per share, net loss of $6,342,000, net loss attributable to company of $6,284,000 or $0.15 diluted loss per share on net revenues of $148,835,000 against operating loss of $19,513,000, loss from continuing operations before income taxes of $21,098,000, net loss from continuing operations of $10,902,000 or $0.26 diluted loss per share, net loss of $11,270,000, net loss attributable to company of $10,991,000 or $0.27 diluted loss per share on net revenues of $144,194,000 for the same period a year ago. Adjusted Non-GAAP operating loss was $5,709,000 against $17,036,000 for the same period a year ago. Adjusted net loss from continuing operations attributable to company was $8,470,000 or $0.21 diluted loss per share against $8,503,000 or $0.21 diluted loss per share for the same period a year ago. Net revenues increased 3.2%, principally due to a 3.8% increase in organic growth. Foreign currency effects resulted in a 0.6% decrease in net revenues, driven principally by the strengthened dollar versus the euro. Cash flow provided by operating activities was $13.0 million compared with $6.5 million in the first quarter of 2012. When compared to the end of the second quarter of 2012, accounts receivable inventories, and accounts payable combined generated improved cash flows of $64.1 million, including a $31 million improvement in the first quarter. Allowing for the forecasted use of working capital support expected second quarter revenue growth, the company believes are well positioned to achieve goal of a $50 million to $60 million improvement by June 2013. The company revised earnings guidance for the full year of 2013. Net revenues are expected to be in the range of $675 million to $695 million. Prior guidance was net revenues in the range of $665 million to $685 million. Non-GAAP operating income is expected to be $45 million to $50 million, which is unchanged from prior guidance. Prior guidance was operating income margins of 6.8% to 7.3%, equivalent to $45 million to $50 million. Non-GAAP diluted net earnings per share attributable to Checkpoint Systems Inc. are expected to be in the range of $0.65 to $0.75 which is unchanged from prior guidance. Free cash flow (cash flow from operations less capital expenditures) is expected to be in the range of $50 million to $60 million which is unchanged from prior guidance. Full year non-GAAP effective income tax rate is expected to be approximately 27% to 29% which is unchanged from prior guidance. Finally, depreciation and amortization expenses expected -- is continued to be expected in the range of $25 million to $30 million, and capital expenditures are continued to expected to be approximately $19 million for the full year.