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Bank of Nova Scotia, Checkpoint Systems Announce Earnings
Tuesday, March 5, 11:38 AM ET

Bank of Nova (NYSE:BNS) announced on Tuesday that profit for the quarter increased by 13 percent, mainly due to acquisitions. The company earned $1.63 billion Canadian, or $1.25 Canadian per share, for the first fiscal quarter, versus $1.44 billion Canadian, or $1.20 Canadian, in the same period last year. Excluding items, the bank earned $1.27 Canadian per share, while analysts expected earnings of $1.25 Canadian.

Checkpoint Systems (CKP) announced that it lost $35.4 million, or 86 cents per share, versus a loss of $19.1 million, or 47 cents per share, in the same period last year. The company had a $38 million charge to write down the retail merchandising unit factored into earnings. Excluding the charge, earnings were nine cents per share, versus a loss of 12 cents per share in the same period last year. Revenue declined by 11 percent to $200.2 million from $225.1 million. For 2012, the loss was $145.9 million, or $3.56 per share versus a loss of $66.6 million, or $1.64 per share in 2011. Revenue declined by ten percent to $690.8 million. The company expects 2013 earnings between 65 cents and 75 cents per share on revenue of $665 million to $685 million.

For MarketNewsVideo.com, I'm Sayoko Murase.

Bank of Nova Scotia, Checkpoint Systems Announce Earnings picture
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