SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K/A
AMENDMENT TO CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JULY 8, 1993
Checkpoint Systems, Inc.
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(Exact name of registrant as specified in its charter)
Pennsylvania
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(State or other jurisdiction of incorporation or organization)
1-11257 22-1895850
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(Commission File Number) (I.R.S.Employer Identification No.)
101 Wolf Drive, PO Box 188 Thorofare, New Jersey 08086
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(Address of principal executive offices)
(609) 848-1800
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(Registrant's telephone number, including area code)
N/A
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(Former name or address, if changed since last report)
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Item 7. Financial Statements and Exhibits.
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The Current Report on Form 8-K, dated July 22, 1993, as amended on
August 19, 1993 on Form 8-K/A and as further amended on September 20, 1993 on
Form 8-K/A (the "Current Report"), is hereby further amended by additional
unaudited combined statement of cash flows and combined earnings statement for
the comparative six months ended June, 1992, filed herewith to this Form 8-
K/A.
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ID SYSTEMS GROUP
COMBINED STATEMENT OF CASH FLOWS (unaudited) (amounts in NLG 1,000)
FOR THE SIX MONTHS ENDED June 27, June 30,
- ------------------------------------------- 1993 1992
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CASH INFLOW (OUTFLOW) FROM OPERATING ACTIVITIES:
NET LOSS $(6,886) $( 195)
Adjustments to reconcile net loss to net
cash used by operating activities:
Depreciation and amortization 1,578 974
Extraordinary gain on debt restructure (3,900) -
(Increase) decrease in current assets:
Accounts receivable 2,199 (2,006)
Inventories 3,205 ( 70)
Other current assets ( 91) ( 118)
Increase (decrease) in current liabilities:
Taxes and social security premiums 1,545 208
Accounts payable 970 10
Provision for nonrecurring expenses 2,950 -
Other current liabilities 1,129 ( 96)
Minority Interest ( 59) ( 49)
Other ( 335) -
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NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 2,305 (1,342)
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CASH INFLOW (OUTFLOW) FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment - (1,254)
Other investing activities - 92
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NET CASH USED BY INVESTING ACTIVITIES - (1,162)
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CASH INFLOW (OUTFLOW) FROM FINANCING ACTIVITIES:
Advances from Checkpoint 2,460 -
Payment of debt (4,164) (1,662)
Proceeds of debt - 4,021
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NET CASH PROVIDED (USED) FOR FINANCING ACTIVITIES (1,704) 2,359
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NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 601 ( 145)
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD 346 591
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CASH AND CASH EQUIVALENTS END OF PERIOD 947 446
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Supplemental cash flow disclosure:
Cash paid for interest during the six month period
ended June 27, 1993 and June 30, 1992 amounted to
NLG 615 and NLG 1077, respectively.
See accompanying notes to financial statements.
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ID SYSTEMS GROUP
COMBINED EARNINGS STATEMENT (unaudited) (amounts in NLG 1,000,
FOR THE SIX MONTHS ENDED except per share data
- --------------------------------------- June 27, June 30,
1993 1992
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Net revenues $ 11,697 $ 20,767
Cost of revenues 6,431 7,744
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GROSS PROFIT 5,266 13,023
Selling, general and administrative expenses 11,563 13,184
Nonrecurring operating expenses 4,463 -
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OPERATING LOSS (10,760) ( 161)
Interest income 153 448
Interest expense ( 615) ( 1,077)
Currency exchange gain 369 92
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Loss before income taxes (10,853) ( 698)
Income taxes (benefit) 0 ( 168)
Minority interest 67 48
LOSS FROM CONTINUING OPERATIONS (10,786) ( 482)
Discontinued operations:
Operating result - 455
Income tax expense on result - 168
Extraordinary item:
Gain on restructuring of debt 3,900 -
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Net loss ( 6,886) ( 195)
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Common shares 134 134
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Loss from continuing operations ( 81) ( 4)
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Loss per share ( 51) ( 2)
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SHAREHOLDERS' EQUITY
Balance, December 31, 1992 (26,830)
Net loss ( 6,886)
Currency translation adjustment ( 349)
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Balance, June 27, 1993 (34,065)
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See accompanying notes to financial statements.
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Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: February 17, 1995
CHECKPOINT SYSTEMS, INC.
/s/Mitchell T. Codkind
Corporate Controller and
Chief Accounting Officer
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