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|   | Pennsylvania |   | 22-1895850 |   |
|   | (State of Incorporation) |   | (IRS Employer Identification No.) |   |
|   |   |   |   |   |
|   | 101 Wolf Drive, PO Box 188, Thorofare, New Jersey |   | 08086 |   |
|   | (Address of principal executive offices) |   | (Zip Code) |   |

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|   | 856-848-1800 |   |
|   | (Registrant’s telephone number, including area code) |   |

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|   | Title of each classso registered |   | Name of each exchange on whichregistered |   |
|   | Common Stock, Par Value $.10 Per Share |   | New York Stock Exchange |   |

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|   | Securities registered pursuant to Section 12(g) of the Act:None |   |
|   | (Title of class) |   |

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| Large accelerated filer o |   | Accelerated filer þ |   | Non-accelerated filer o |   | Smaller reporting company o |
|                      |   | (Do not check if a smaller reporting company) |   |   |

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|      |   |   | Page |
| PART I.   |   |   |   |
|      | Item 1. | Business | 5 |
|      | Item 1A. | Risk Factors | 17 |
|      | Item 1B. | Unresolved Staff Comments | 25 |
|      | Item 2. | Properties | 25 |
|      | Item 3. | Legal Proceedings | 25 |
|      | Item 4. | Mine Safety Disclosures | 25 |
| PART II.  |   |   |   |
|      | Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 26 |
|      | Item 6. | Selected Financial Data | 28 |
|      | Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 30 |
|      | Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | 49 |
|      | Item 8. | Financial Statements and Supplementary Data | 50 |
|      | Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 99 |
|      | Item 9A. | Controls and Procedures | 99 |
|      | Item 9B. | Other Information | 100 |
| PART III. |   |   |   |
|      | Item 10. | Directors and Executive Officers and Corporate Governance | 100 |
|      | Item 11. | Executive Compensation | 100 |
|      | Item 12. | Security Ownership of Certain Beneficial Owners and Management | 101 |
|      | Item 13. | Certain Relationships and Related Transactions, and Director Independence | 101 |
|      | Item 14. | Principal Accounting Fees and Services | 101 |
| PART IV.  |   |   |   |
|      | Item 15. | Exhibits and Financial Statement Schedules | 102 |
|      |   | SIGNATURES | 103 |
|      |   | INDEX TO EXHIBITS | 104 |
|      |   | SCHEDULE II – Valuation and Qualifying Accounts | 106 |

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|         |                                                                                                                                                                                                            |
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| • | Communicating the synergies within our product portfolio to demonstrate the collective value they offer in enhancing merchandise availability, preventing out-of-stocks and improving shoppers' experience |

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| • | Continuing to develop new product solutions that offer a compelling return-on-investment for retailers to enable us to expand penetration within existing retail accounts and gain new customer accounts |

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| • | Establishing business-to-business web-based capabilities to enable retailers and manufacturers to initiate and track their orders through the supply chain on a global basis |

|         |                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------|
| • | Continuing to promote source tagging around the world with extensive integration and automation capabilities |

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|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Providing a clear migration path from EAS to RFID and from shrink management to merchandise availability that protects retailers' past investment while improving the effectiveness of their purchased assets |

|         |                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Assisting retailers in maximizing the benefits of merchandise visibility through their supply chain all the way to their stores' exit doors - from source to shopper |

|         |                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Becoming a trusted advisor to our retail customers where we can offer actionable insights to protect merchandise, prevent out-of-stocks, and improve display merchandising |

|         |                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Communicating, messaging and highlighting Checkpoint's unique position as a one-stop provider of integrated and complete solutions for retailers |

|         |                                                                             |
|---------|-----------------------------------------------------------------------------|
| • | Demonstrating a return-on-investment model that will deliver proven results |

|         |                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------|
| • | Helping retailers sell more merchandise by avoiding stock-outs, reducing shrink, and making merchandise available to consumers |

|         |                                                                         |
|---------|-------------------------------------------------------------------------|
| • | Working directly with brand owners to improve source-tagging automation |

|         |                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------|
| • | Implementing sales, marketing, comprehensive public relations, and targeted trade show participation |

|         |                                                            |
|---------|------------------------------------------------------------|
| • | Delivering superior field service and support capabilities |

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| • | Actively participating in and supporting industry associations focused on setting standards, identifying needs, trends, and innovation |

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| • | Increasing installation of EAS equipment on a chain-wide basis with leading retailers around the world |

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| • | Offering integrated tag solutions, including custom tag conversion, that address the multiple but synergistic needs for branding, tracking, and loss prevention |

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| • | Assisting retailers in promoting source tagging with vendors and brand owners |

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| • | Broadening the penetration of existing accounts by promoting our in-house printing, global service bureau network, and labeling solution capabilities |

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| • | Supporting manufacturers and suppliers to speed implementation |

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| • | Expanding RF tag technologies and products to accommodate the needs of the packaging industry |

|         |                                                     |
|---------|-----------------------------------------------------|
| • | Developing compatibility with EPC/RFID technologies |

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|                     |  |  |  |
|   Name    |   Age | TenurewithCompany |  Position with the Company andDate of Election to Position |
| George Babich, Jr.  | 62 | 8 years | President and Chief Executive Officer since February 2013; Director since 2006 |
| Jeffrey O. Richard  | 47 | 2 years | Executive Vice President and Chief Financial Officer since May 2013 |
| Per H. Levin        | 57 | 20 years | President, Merchandise Availability Solutions since January 2015 |
| Farrokh Abadi       | 53 | 10 years | Chief Strategy and Development Officer since January 2015 |
| S. James Wrigley    | 61 | 5 years | President and Chief Operating Officer, Apparel Labeling Solutions since June 2012 |
| Bryan T. R. Rowland | 35 | 12 years | Vice President, General Counsel and Secretary since May 2014 |
| Carol P. Roy        | 63 | 7 years | Chief Human Resources Officer since February 2015 |
| Uwe Sydon           | 52 | 1 year | Senior Vice President of Innovation since May 2014 |

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|         |                                                                                                                |
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| ▪ | Difficulty in enforcing agreements, collecting receivables and protecting assets through foreign legal systems |

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| ▪ | Trade protection measures and import or export licensing requirements |

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| ▪ | Difficulty in staffing and managing widespread operations and the application of foreign labor regulations |

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| ▪ | Compliance with a variety of foreign laws and regulations |

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| ▪ | Compliance with the Foreign Corrupt Practices Act, the UK Bribery Act and the Office of Foreign Assets Control |

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| ▪ | Changes in the general political and economic conditions in the countries where we operate, particularly in emerging markets |

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| ▪ | The threat of nationalization and expropriation |

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| ▪ | Increased costs and risks of doing business in a number of foreign jurisdictions |

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| ▪ | Changes in enacted tax laws |

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| ▪ | Limitations on repatriation of earnings |

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|---------|---------------------------------------------------------------------------------------|
| ▪ | Fluctuations in equity and revenues due to changes in foreign currency exchange rates |

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|         |                                                                                                                                                                                                                     |
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| • | Develop and fund technological innovations, such as those related to our next generation EAS product solutions, evolving RFID technologies, and other innovative security device, software, and systems initiatives |

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|---------|----------------------------------------------------------------|
| • | Receive and maintain necessary patent and trademark protection |

|         |                                                        |
|---------|--------------------------------------------------------|
| • | Successfully anticipate customer needs and preferences |

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| • | Margin enhancement initiatives |

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| • | Improved financial forecasting abilities |

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|---------|-------------------------------|
| • | Enhanced management reporting |

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|---------|----------------------------------------|
| • | New sales compensation incentive plans |

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| • | Refined product pricing approach |

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|---------|-------------------------------------------------------|
| • | Continuous cost-improvement process improvement plans |

|         |                                      |
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| • | Systematic talent assessment process |

|         |                                                |
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| • | Developing a culture focused on accountability |

|         |                                  |
|---------|----------------------------------|
| • | Improved supply chain management |

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|                                     |  |  |  |  |  |  |  |
|                                | Market PricePer Share |
|                                | High |   | Low |
| Fiscal year ended December 28, 2014 |   |   |   |
| First Quarter                       | $ | 15.88 |  |   | $ | 12.07 |  |
| Second Quarter                      | $ | 14.48 |  |   | $ | 11.94 |  |
| Third Quarter                       | $ | 14.35 |  |   | $ | 11.93 |  |
| Fourth Quarter                      | $ | 14.12 |  |   | $ | 11.55 |  |
| Fiscal year ended December 29, 2013 |   |   |   |
| First Quarter                       | $ | 13.95 |  |   | $ | 10.27 |  |
| Second Quarter                      | $ | 14.91 |  |   | $ | 10.50 |  |
| Third Quarter                       | $ | 17.78 |  |   | $ | 14.04 |  |
| Fourth Quarter                      | $ | 18.25 |  |   | $ | 12.81 |  |

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|                  |  |  |  |  |  |  |  |  |
|   Year |  CheckpointSystems, Inc. |   |  NYSE/AMEX/NASDAQStock Market Index |   | NASDAQ ElectronicComponents andAccessories Index |
| 2009             | 100.00 |  |   | 100.00 |  |   | 100.00 |  |
| 2010             | 135.77 |  |   | 116.50 |  |   | 115.90 |  |
| 2011             | 73.37 |  |   | 118.38 |  |   | 107.14 |  |
| 2012             | 68.15 |  |   | 134.56 |  |   | 109.05 |  |
| 2013             | 99.61 |  |   | 181.87 |  |   | 149.71 |  |
| 2014             | 91.58 |  |   | 207.18 |  |   | 194.03 |  |

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |  |  |  |  |  |  |  |  |  |
|                                               | 12/27/2009 | 12/26/2010 | 12/25/2011 | 12/30/2012 | 12/29/2013 | 12/28/2014 |
| Checkpoint Systems, Inc.                           | 100.00 |  | 135.77 |  | 73.37 |  | 68.15 |  | 99.61 |  | 91.58 |  |
| NYSE/AMEX/NASDAQ Stock Market Index                | 100.00 |  | 116.50 |  | 118.38 |  | 134.56 |  | 181.87 |  | 207.18 |  |
| NASDAQ Electronic Components and Accessories Index | 100.00 |  | 115.90 |  | 107.14 |  | 109.05 |  | 149.71 |  | 194.03 |  |

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|                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands, except per share data)                           |   |   |   |   |   |   |   |   |   |   |
|  Year ended                                                        | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |   | December 25, 2011 |  |   | December 26, 2010 |  |   |
| STATEMENT OF OPERATIONS DATA                                            |   |   |   |   |   |   |   |  |   |   |   |
| Net revenues                                                            | $ | 662,040 |  |   | $ | 689,738 |  |   | $ | 689,920 |  |   | $ | 758,400 |  |   | $ | 717,554 |  |   |
| Earnings (loss) from continuing operations before income taxes          | $ | 34,174 |  |   | $ | 1,900 |  |   | $ | (133,015 | ) |   | $ | (29,043 | ) |   | $ | 24,590 |  |   |
| Income taxes expense                                                    | $ | 23,221 |  |   | $ | 3,671 |  |   | $ | 6,005 |  |   | $ | 53,353 |  |   | $ | 4,536 |  |   |
| Net earnings (loss) from continuing operations                          | $ | 10,953 |  |   | $ | (1,771 | ) |   | $ | (139,020 | ) |   | $ | (82,396 | ) |   | $ | 20,054 |  |   |
| Earnings (loss) from discontinued operations, net of tax                | $ | — |  |   | $ | (17,156 | ) |   | $ | (7,959 | ) |   | $ | (1,165 | ) |   | $ | 8,325 |  |   |
| Net earnings (loss) attributable to Checkpoint Systems, Inc.            | $ | 10,953 |  | (1)  | $ | (18,928 | ) | (2)  | $ | (146,450 | ) | (3)  | $ | (83,504 | ) | (4)  | $ | 28,495 |  | (5)  |
| Net earnings (loss) from continuing operations per share:               |   |   |   |   |   |  |   |   |   |   |   |
|   Basic                                                       | $ | 0.26 |  |   | $ | (0.05 | ) |   | $ | (3.37 | ) |   | $ | (2.03 | ) |   | $ | 0.50 |  |   |
|   Diluted                                                     | $ | 0.26 |  |   | $ | (0.05 | ) |   | $ | (3.37 | ) |   | $ | (2.03 | ) |   | $ | 0.49 |  |   |
| Net earnings (loss) attributable to Checkpoint Systems, Inc. per share: |   |   |   |   |   |   |   |   |   |   |
|   Basic                                                       | $ | 0.26 |  |   | $ | (0.46 | ) |   | $ | (3.57 | ) |   | $ | (2.06 | ) |   | $ | 0.71 |  |   |
|   Diluted                                                     | $ | 0.26 |  |   | $ | (0.46 | ) |   | $ | (3.57 | ) |   | $ | (2.06 | ) |   | $ | 0.70 |  |   |
| Depreciation and amortization                                           | $ | 25,150 |  |   | $ | 28,580 |  |   | $ | 32,714 |  |   | $ | 37,348 |  |   | $ | 34,477 |  |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Includes a $11.3 million valuation allowance expense, a $6.7 million restructuring charge ($5.9 million, net of tax), $2.2 million in financing liability interest expense ($1.7 million, net of tax), a $1.6 million litigation settlement ($1.6 million, net of tax), a $0.9 million asset impairment ($0.6 million, net of tax), and $0.4 million in acquisition costs ($0.4 million, net of tax). |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Includes a $10.9 million restructuring charge ($8.8 million, net of tax), a $9.2 million make-whole premium on Senior Secured Notes ($9.2 million, net of tax), a $4.8 million asset impairment ($4.6 million, net of tax), $2.1 million in financing liability interest expense ($1.5 million, net of tax), a $1.2 million charge related to our CFO transition ($1.2 million, net of tax), $1.0 million in acquisition costs ($0.9 million, net of tax), a $0.1 million valuation allowance benefit, a benefit of $6.6 million due to a litigation ruling reversal ($6.6 million, net of tax), and a $0.2 million gain on sale of our interest in the non-strategic Sri Lanka subsidiary ($0.2 million, net of tax). |

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|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | Includes a $106.3 million goodwill impairment ($106.3 million, net of tax), a $28.4 million restructuring charge ($23.9 million, net of tax), a $2.9 million charge related to our CEO transition ($2.9 million, net of tax), $1.9 million in financing liability interest expense ($1.3 million, net of tax), a $1.8 million asset impairment ($1.8 million, net of tax), a $1.1 million make-whole premium on Senior Secured Notes ($1.1 million, net of tax), a $0.3 million valuation allowance expense, $0.3 million in acquisition costs ($0.3 million, net of tax), $0.3 million litigation settlement ($0.3 million, net of tax), income of $3.9 million related to improper and fraudulent Canadian activities including insurance proceeds ($2.9 million, net of tax) and a $1.7 million gain on sale of non-strategic Suzhou, China subsidiary ($1.4 million, net of tax). |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
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| (4)  | Includes a $47.7 million valuation allowance expense, a $28.6 million restructuring charge ($25.8 million, net of tax), a $3.4 million intangible impairment ($3.2 million, net of tax), a $3.4 million goodwill impairment ($3.1 million, net of tax), a $2.3 million in acquisition costs ($2.3 million, net of tax), a $1.0 million change related to an indefinite tax reversal assertion, $1.0 million in financing liability interest expense ($0.7 million, net of tax), a $0.9 million litigation settlement ($0.9 million, net of tax), and income of $0.2 million related to improper and fraudulent Canadian activities ($0.1 million, net of tax). |

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| (5)  | Includes an $8.2 million restructuring charge ($6.2 million, net of tax), a valuation allowance expense of $4.3 million, a $1.7 million tax charge, a $1.5 million expense related to improper and fraudulent Canadian activities ($1.2 million, net of tax), and a $0.8 million selling, general and administrative charge ($0.8 million, net of tax) related to adjustments to acquisition related liabilities pertaining to the period prior to the acquisition date. |

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|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  (amounts in thousands, except ratios)     | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |   | December 25, 2011 |  |   | December 26, 2010 |  |
| AT YEAR END                                     |   |   |   |   |   |   |   |   |   |
| Working capital                                 | $ | 232,551 |  |   | $ | 233,452 |  |   | $ | 229,720 |  |   | $ | 233,179 |  |   | $ | 293,836 |  |
| Total debt                                      | $ | 65,397 |  |   | $ | 91,622 |  |   | $ | 113,288 |  |   | $ | 150,462 |  |   | $ | 141,949 |  |
| Total equity                                    | $ | 327,931 |  |   | $ | 346,325 |  |   | $ | 354,309 |  |   | $ | 508,645 |  |   | $ | 576,714 |  |
| Total assets                                    | $ | 738,666 |  |   | $ | 799,493 |  |   | $ | 869,115 |  |   | $ | 1,058,983 |  |   | $ | 1,035,993 |  |
| FOR THE YEAR ENDED                              |   |  |   |   |  |   |   |  |   |   |  |   |   |  |
| Capital expenditures                            | $ | (17,971 | ) |   | $ | (8,946 | ) |   | $ | (12,401 | ) |   | $ | (22,981 | ) |   | $ | (23,712 | ) |
| Cash provided by (used in) operating activities | $ | 65,542 |  |   | $ | 21,070 |  |   | $ | 62,365 |  |   | $ | (20,073 | ) |   | $ | 11,727 |  |
| Cash used in investing activities               | $ | (17,605 | ) |   | $ | (5,298 | ) |   | $ | (2,449 | ) |   | $ | (98,280 | ) |   | $ | (23,185 | ) |
| Cash (used in) provided by financing activities | $ | (24,135 | ) |   | $ | (11,337 | ) |   | $ | (35,166 | ) |   | $ | 37,304 |  |   | $ | 28,891 |  |
| RATIOS                                          |   |  |   |   |  |   |   |  |   |   |  |   |   |  |
| Return on net sales(a)                          | 1.65 | % |   | (2.74 | )% |   | (21.23 | )% |   | (11.01 | )% |   | 3.97 | % |
| Return on average equity(b)                     | 3.25 | % |   | (5.40 | )% |   | (33.94 | )% |   | (15.39 | )% |   | 5.06 | % |
| Return on average assets(c)                     | 1.42 | % |   | (2.27 | )% |   | (15.19 | )% |   | (7.97 | )% |   | 2.76 | % |
| Current ratio(d)                                | 2.47 |  |   | 2.31 |   | 2.05 |   | 1.90 |   | 2.35 |
| Percent of total debt to capital(e)             | 16.63 | % |   | 20.92 |  % |   | 24.23 |  % |   | 22.83 |  % |   | 19.75 | % |

|           |                                                                                               |
|-----------|-----------------------------------------------------------------------------------------------|
| (a)  | “Return on net sales” is calculated by dividing net earnings (loss) by net sales. |

|           |                                                                                                         |
|-----------|---------------------------------------------------------------------------------------------------------|
| (b)  | “Return on average equity” is calculated by dividing net earnings (loss) by average equity. |

|           |                                                                                                         |
|-----------|---------------------------------------------------------------------------------------------------------|
| (c)  | “Return on average assets” is calculated by dividing net earnings (loss) by average assets. |

|           |                                                                                              |
|-----------|----------------------------------------------------------------------------------------------|
| (d)  | “Current ratio” is calculated by dividing current assets by current liabilities. |

|           |                                                                                                               |
|-----------|---------------------------------------------------------------------------------------------------------------|
| (e)  | “Percent of total debt to capital” is calculated by dividing total debt by total debt and equity. |

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands, except employee data)            | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |   | December 25, 2011 |  |   | December 26, 2010 |  |
| OTHER INFORMATION                                       |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares outstanding - diluted | 42,374 |   | 41,903 |   | 41,000 |   | 40,532 |   | 40,445 |
| Number of employees                                     | 4,894 |   | 4,710 |   | 5,132 |   | 6,565 |   | 5,814 |
| Backlog                                                 | $ | 28,995 |  |   | $ | 25,273 |  |   | $ | 48,212 |  |   | $ | 52,204 |  |   | $ | 47,974 |  |

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|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Contractual Obligation(amounts in thousands) | Total |  |   | Due in lessthan 1 year |  |   | Due in1-3 years |  |   | Due in3-5 years |  |   | Due after5 years |  |
| Long-term debt(1)                            | $ | 68,874 |  |   | $ | 1,044 |  |   | $ | 1,928 |  |   | $ | 65,902 |  |   | — |  |
| Capital leases(2)                            | 269 |  |   | 100 |  |   | 154 |  |   | 15 |  |   | — |  |
| Operating leases                             | 21,065 |  |   | 8,639 |  |   | 9,184 |  |   | 2,502 |  |   | 740 |  |
| Pension obligations(3)                       | 47,817 |  |   | 4,474 |  |   | 9,036 |  |   | 9,353 |  |   | 24,954 |  |
| Purchase obligations(4)                      | 1,552 |  |   | 1,552 |  |   | — |  |   | — |  |   | — |  |
| Total contractual cash obligations           | $ | 139,577 |  |   | $ | 15,809 |  |   | $ | 20,302 |  |   | $ | 77,772 |  |   | $ | 25,694 |  |

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|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial Commitments(amounts in thousands) | Total |  |   | Due in lessthan 1 year |  |   | Due in1-3 years |  |   | Due in3-5 years |  |   | Due after5 years |  |
| Standby letters of credit                    | $ | 1,415 |  |   | $ | 1,415 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Surety bonds                                 | 1,064 |  |   | 867 |  |   | 197 |  |   | — |  |   | — |  |
| Total commercial commitments                 | $ | 2,479 |  |   | $ | 2,282 |  |   | $ | 197 |  |   | $ | — |  |   | $ | — |  |

|           |                                                                                                                                                                  |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Includes the 2013 Senior Secured Credit Facility, long-term full-recourse factoring liabilities, and related interest payments through maturity of $3.8 million. |

|           |                                                              |
|-----------|--------------------------------------------------------------|
| (2)  | Includes interest payments through maturity of $20 thousand. |

|           |                                                                                                                                                                                                                                                                                                                                                          |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | Amounts represent undiscounted projected benefit payments to our unfunded plans over the next 10 years. The expected benefit payments are estimated based on the same assumptions used to measure our accumulated benefit obligation at the end of 2014 and include benefits attributable to estimated future employee service of current employees. |

|           |                                                                                                                                    |
|-----------|------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | Purchase obligations represent our legally binding agreements to purchase services or goods at fixed prices or minimum quantities. |

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|                                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                   | Percentage ofTotal Revenues |   | Percentage Changein Dollar Amount |
| Year ended                                                                             | December 28,2014(Fiscal 2014) |  |   | December 29,2013(Fiscal 2013) |  |   | December 30,2012(Fiscal 2012) |  |   | Fiscal 2014vs.Fiscal 2013 |  |   | Fiscal 2013vs.Fiscal 2012 |  |
| Net revenues:                                                                          |   |   |   |   |   |   |   |   |   |
| Merchandise Availability Solutions                                                     | 66.2 |  % |   | 66.2 |  % |   | 64.8 |  % |   | (3.8 | )% |   | 2.1 |  % |
| Apparel Labeling Solutions                                                             | 26.4 |  |   | 26.4 |  |   | 27.1 |  |   | (4.3 | ) |   | (2.8 | ) |
| Retail Merchandising Solutions                                                         | 7.4 |  |   | 7.4 |  |   | 8.1 |  |   | (4.9 | ) |   | (7.8 | ) |
| Net revenues                                                                           | 100.0 |  |   | 100.0 |  |   | 100.0 |  |   | (4.0 | ) |   | — |  |
| Cost of revenues                                                                       | 56.9 |  |   | 61.0 |  |   | 60.9 |  |   | (10.4 | ) |   | 0.1 |  |
| Total gross profit                                                                     | 43.1 |  |   | 39.0 |  |   | 39.1 |  |   | 5.9 |  |   | (0.3 | ) |
| Selling, general, and administrative expenses                                          | 33.5 |  |   | 31.7 |  |   | 36.0 |  |   | 1.3 |  |   | (11.8 | ) |
| Research and development                                                               | 2.3 |  |   | 2.5 |  |   | 2.4 |  |   | (12.7 | ) |   | 6.9 |  |
| Restructuring expense                                                                  | 1.0 |  |   | 1.6 |  |   | 4.1 |  |   | (38.8 | ) |   | (61.8 | ) |
| Asset impairment                                                                       | 0.1 |  |   | 0.7 |  |   | — |  |   | (82.1 | ) |   | N/A |
| Goodwill impairment                                                                    | — |  |   | — |  |   | 14.9 |  |   | N/A |   | (100.0 | ) |
| Litigation settlement                                                                  | 0.2 |  |   | (0.9 | ) |   | — |  |   | (124.3 | ) |   | N/A |
| Acquisition costs                                                                      | 0.1 |  |   | 0.1 |  |   | 0.1 |  |   | (62.1 | ) |   | 189.2 |  |
| Other income                                                                           | — |  |   | — |  |   | (0.6 | ) |   | N/A |   | (100.0 | ) |
| Other operating income                                                                 | — |  |   | (0.1 | ) |   | (0.3 | ) |   | (100.0 | ) |   | (71.7 | ) |
| Operating income (loss)                                                                | 5.9 |  |   | 3.4 |  |   | (17.5 | ) |   | 66.4 |  |   | (119.3 | ) |
| Interest income                                                                        | 0.2 |  |   | 0.2 |  |   | 0.3 |  |   | (22.1 | ) |   | (13.8 | ) |
| Interest expense                                                                       | 0.7 |  |   | 2.7 |  |   | 1.8 |  |   | (75.5 | ) |   | 51.2 |  |
| Other gain (loss), net                                                                 | (0.2 | ) |   | (0.6 | ) |   | (0.3 | ) |   | (72.0 | ) |   | 127.4 |  |
| Earnings (loss) from continuing operations before income taxes                         | 5.2 |  |   | 0.3 |  |   | (19.3 | ) |   | 1,698.6 |  |   | (101.4 | ) |
| Income taxes expense                                                                   | 3.5 |  |   | 0.5 |  |   | 0.9 |  |   | 532.6 |  |   | (38.9 | ) |
| Net earnings (loss) from continuing operations                                         | 1.7 |  |   | (0.2 | ) |   | (20.2 | ) |   | (718.5 | ) |   | (98.7 | ) |
| Loss from discontinued operations, net of tax (benefit) expense of $0, ($68), and $247 | — |  |   | (2.5 | ) |   | (1.1 | ) |   | (100.0 | ) |   | 115.6 |  |
| Net earnings (loss)                                                                    | 1.7 |  |   | (2.7 | ) |   | (21.3 | ) |   | (157.9 | ) |   | (87.1 | ) |
| Less: gain (loss) attributable to non-controlling interests                            | — |  |   | — |  |   | (0.1 | ) |   | (100.0 | ) |   | (100.2 | ) |
| Net earnings (loss) attributable to Checkpoint Systems, Inc.                           | 1.7 |  % |   | (2.7 | )% |   | (21.2 | )% |   | (157.9 | ) |   | (87.1 | )% |

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|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in millions)              |   |   |   |   |   |   |   |
| Year ended                         | December 28,2014(Fiscal 2014) |  |   | December 29,2013(Fiscal 2013) |  |   | DollarAmountChangeFiscal 2014vs.Fiscal 2013 |  |   | PercentageChangeFiscal 2014vs.Fiscal 2013 |  |
| Net Revenues:                      |   |   |   |   |   |   |   |
| Merchandise Availability Solutions | $ | 438.8 |  |   | $ | 456.1 |  |   | $ | (17.3 | ) |   | (3.8 | )% |
| Apparel Labeling Solutions         | 174.3 |  |   | 182.2 |  |   | (7.9 | ) |   | (4.3 | )% |
| Retail Merchandising Solutions     | 48.9 |  |   | 51.4 |  |   | (2.5 | ) |   | (4.9 | )% |
| Net Revenues                       | $ | 662.0 |  |   | $ | 689.7 |  |   | $ | (27.7 | ) |   | (4.0 | )% |

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|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in millions)              |   |   |   |   |   |   |   |
| Year ended                         | December 29,2013(Fiscal 2013) |  |   | December 30,2012(Fiscal 2012) |  |   | DollarAmountChangeFiscal 2013vs.Fiscal 2012 |  |   | PercentageChangeFiscal 2013vs.Fiscal 2012 |  |
| Net Revenues:                      |   |   |   |   |   |   |   |
| Merchandise Availability Solutions | $ | 456.1 |  |   | $ | 446.8 |  |   | $ | 9.3 |  |   | 2.1 |  % |
| Apparel Labeling Solutions         | 182.2 |  |   | 187.4 |  |   | (5.2 | ) |   | (2.8 | ) |
| Retail Merchandising Solutions     | 51.4 |  |   | 55.7 |  |   | (4.3 | ) |   | (7.8 | ) |
| Net Revenues                       | $ | 689.7 |  |   | $ | 689.9 |  |   | $ | (0.2 | ) |   | — |  % |

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|                                                                                                                                       |
|---------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                       |  |
| Report of Independent Registered Public Accounting Firm                                                                               | 51 |
| Consolidated Balance Sheets as of December 28, 2014 and December 29, 2013                                                             | 52 |
| Consolidated Statements of Operations for each of the years ended December 28, 2014, December 29, 2013 and December 30, 2012          | 53 |
| Consolidated Statements of Comprehensive Income (Loss) for the years ended December 30, 2014, December 29, 2013 and December 30, 2012 | 54 |
| Consolidated Statements of Equity for the years ended December 28, 2014, December 29, 2013 and December 30, 2012                      | 55 |
| Consolidated Statements of Cash Flows for the years ended December 28, 2014, December 29, 2013 and December 30, 2012                  | 56 |
| Notes to Consolidated Financial Statements                                                                                            | 57 |
| Financial Statement Schedules, Schedule II - Valuation and Qualifying Accounts                                                        | 106 |

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|                                                                                                                                                    |
|----------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                    |  |  |  |  |  |  |  |
| (amounts in thousands)                                                                                                                             | December 28, 2014 |  |   | December 29, 2013 |  |
| ASSETS                                                                                                                                             |   |   |   |
| CURRENT ASSETS:                                                                                                                                    |   |   |   |
| Cash and cash equivalents                                                                                                                          | $ | 135,537 |  |   | $ | 121,573 |  |
| Accounts receivable, net of allowance of $8,526 and $12,404                                                                                        | 131,720 |  |   | 167,864 |  |
| Inventories                                                                                                                                        | 91,860 |  |   | 83,521 |  |
| Other current assets                                                                                                                               | 25,928 |  |   | 29,119 |  |
| Deferred income taxes                                                                                                                              | 5,557 |  |   | 9,108 |  |
| Total Current Assets                                                                                                                               | 390,602 |  |   | 411,185 |  |
| REVENUE EQUIPMENT ON OPERATING LEASE, net                                                                                                          | 1,057 |  |   | 1,267 |  |
| PROPERTY, PLANT, AND EQUIPMENT, net                                                                                                                | 76,332 |  |   | 75,067 |  |
| GOODWILL                                                                                                                                           | 173,569 |  |   | 185,864 |  |
| OTHER INTANGIBLES, net                                                                                                                             | 64,940 |  |   | 78,166 |  |
| DEFERRED INCOME TAXES                                                                                                                              | 25,284 |  |   | 38,131 |  |
| OTHER ASSETS                                                                                                                                       | 6,882 |  |   | 9,813 |  |
| TOTAL ASSETS                                                                                                                                       | $ | 738,666 |  |   | $ | 799,493 |  |
| LIABILITIES AND EQUITY                                                                                                                             |   |   |   |
| CURRENT LIABILITIES:                                                                                                                               |   |   |   |
| Short-term borrowings and current portion of long-term debt                                                                                        | $ | 236 |  |   | $ | 435 |  |
| Accounts payable                                                                                                                                   | 48,928 |  |   | 67,203 |  |
| Accrued compensation and related taxes                                                                                                             | 27,511 |  |   | 24,341 |  |
| Other accrued expenses                                                                                                                             | 44,204 |  |   | 41,580 |  |
| Income taxes                                                                                                                                       | 1,278 |  |   | 2,439 |  |
| Unearned revenues                                                                                                                                  | 7,663 |  |   | 9,011 |  |
| Restructuring reserve                                                                                                                              | 6,255 |  |   | 8,175 |  |
| Accrued pensions — current                                                                                                                   | 4,472 |  |   | 5,013 |  |
| Other current liabilities                                                                                                                          | 17,504 |  |   | 19,536 |  |
| Total Current Liabilities                                                                                                                          | 158,051 |  |   | 177,733 |  |
| LONG-TERM DEBT, LESS CURRENT MATURITIES                                                                                                            | 65,161 |  |   | 91,187 |  |
| FINANCING LIABILITY                                                                                                                                | 33,094 |  |   | 35,068 |  |
| ACCRUED PENSIONS                                                                                                                                   | 108,920 |  |   | 99,677 |  |
| OTHER LONG-TERM LIABILITIES                                                                                                                        | 30,140 |  |   | 36,436 |  |
| DEFERRED INCOME TAXES                                                                                                                              | 15,369 |  |   | 13,067 |  |
| COMMITMENTS AND CONTINGENCIES                                                                                                                      | — |  |   | — |  |
| CHECKPOINT SYSTEMS, INC. STOCKHOLDERS’ EQUITY:                                                                                               |   |   |   |
| Preferred stock, no par value, 500,000 shares authorized, none issued                                                                              | — |  |   | — |  |
| Common stock, $.10 par value, 100,000,000 shares authorized, 45,840,171 and 45,484,524 shares issued, 41,804,259 and 41,448,612 shares outstanding | 4,584 |  |   | 4,548 |  |
| Additional capital                                                                                                                                 | 441,882 |  |   | 434,336 |  |
| Accumulated deficit                                                                                                                                | (12,331 | ) |   | (23,284 | ) |
| Common stock in treasury, at cost, 4,035,912 and 4,035,912 shares                                                                                  | (71,520 | ) |   | (71,520 | ) |
| Accumulated other comprehensive income, net of tax                                                                                                 | (34,684 | ) |   | 2,245 |  |
| TOTAL STOCKHOLDERS’ EQUITY                                                                                                                   | 327,931 |  |   | 346,325 |  |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                         | $ | 738,666 |  |   | $ | 799,493 |  |

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|----------------------------------------------------------------------------------------|
|                                                                                        |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands, except per share data)                                          |   |   |   |   |   |
| Year ended                                                                             | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Net revenues                                                                           | $ | 662,040 |  |   | $ | 689,738 |  |   | $ | 689,920 |  |
| Cost of revenues                                                                       | 376,956 |  |   | 420,647 |  |   | 420,084 |  |
| Gross profit                                                                           | 285,084 |  |   | 269,091 |  |   | 269,836 |  |
| Selling, general, and administrative expenses                                          | 221,566 |  |   | 218,807 |  |   | 248,107 |  |
| Research and development                                                               | 15,303 |  |   | 17,524 |  |   | 16,400 |  |
| Restructuring expense                                                                  | 6,654 |  |   | 10,866 |  |   | 28,438 |  |
| Asset impairment                                                                       | 864 |  |   | 4,820 |  |   | — |  |
| Goodwill impairment                                                                    | — |  |   | — |  |   | 102,715 |  |
| Litigation settlement                                                                  | 1,600 |  |   | (6,584 | ) |   | 295 |  |
| Acquisition costs                                                                      | 364 |  |   | 960 |  |   | 332 |  |
| Other income                                                                           | — |  |   | — |  |   | (3,907 | ) |
| Other operating income                                                                 | — |  |   | (578 | ) |   | (2,043 | ) |
| Operating income (loss)                                                                | 38,733 |  |   | 23,276 |  |   | (120,501 | ) |
| Interest income                                                                        | 1,180 |  |   | 1,515 |  |   | 1,757 |  |
| Interest expense                                                                       | 4,637 |  |   | 18,955 |  |   | 12,540 |  |
| Other gain (loss), net                                                                 | (1,102 | ) |   | (3,936 | ) |   | (1,731 | ) |
| Earnings (loss) from continuing operations before income taxes                         | 34,174 |  |   | 1,900 |  |   | (133,015 | ) |
| Income taxes expense                                                                   | 23,221 |  |   | 3,671 |  |   | 6,005 |  |
| Net earnings (loss) from continuing operations                                         | 10,953 |  |   | (1,771 | ) |   | (139,020 | ) |
| Loss from discontinued operations, net of tax (benefit) expense of $0, ($68), and $247 | — |  |   | (17,156 | ) |   | (7,959 | ) |
| Net earnings (loss)                                                                    | 10,953 |  |   | (18,927 | ) |   | (146,979 | ) |
| Less: gain (loss) attributable to non-controlling interests                            | — |  |   | 1 |  |   | (529 | ) |
| Net earnings (loss) attributable to Checkpoint Systems, Inc.                           | $ | 10,953 |  |   | $ | (18,928 | ) |   | $ | (146,450 | ) |
|                                                                                   |   |   |   |   |   |
| Basic earnings (loss) attributable to Checkpoint Systems, Inc. per share:              |   |   |   |   |   |
| Earnings (loss) from continuing operations                                             | $ | 0.26 |  |   | $ | (0.05 | ) |   | $ | (3.37 | ) |
| Loss from discontinued operations, net of tax                                          | $ | — |  |   | $ | (0.41 | ) |   | $ | (0.20 | ) |
| Basic earnings (loss) attributable to Checkpoint Systems, Inc. per share               | $ | 0.26 |  |   | $ | (0.46 | ) |   | $ | (3.57 | ) |
| Diluted earnings (loss) attributable to Checkpoint Systems, Inc. per share:            |   |   |   |   |   |
| Earnings (loss) from continuing operations                                             | $ | 0.26 |  |   | $ | (0.05 | ) |   | $ | (3.37 | ) |
| Loss from discontinued operations, net of tax                                          | $ | — |  |   | $ | (0.41 | ) |   | $ | (0.20 | ) |
| Diluted earnings (loss) attributable to Checkpoint Systems, Inc. per share             | $ | 0.26 |  |   | $ | (0.46 | ) |   | $ | (3.57 | ) |

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|                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                                                                             |   |   |   |   |   |
| Year ended                                                                                                         | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Net earnings (loss)                                                                                                | $ | 10,953 |  |   | $ | (18,927 | ) |   | $ | (146,979 | ) |
| Other comprehensive income (loss), net of tax:                                                                     |   |   |   |   |   |
| Amortization of pension plan actuarial losses, net of tax expense of $6, $449, and $65                             | 1,501 |  |   | 1,120 |  |   | 218 |  |
| Change in realized and unrealized losses on derivative hedges, net of tax expense (benefit) of $0, $139, and ($71) | — |  |   | (21 | ) |   | (1,521 | ) |
| Recognized (loss) gain on pension, net of tax (benefit) expense of ($219), $547, and ($5,098)                      | (22,334 | ) |   | 1,403 |  |   | (12,797 | ) |
| Prior service cost arising during period, net of tax benefit of $77, $0, and $0                                    | (229 | ) |   | (158 | ) |   | — |  |
| Foreign currency translation adjustment                                                                            | (15,867 | ) |   | (578 | ) |   | 187 |  |
| Total other comprehensive (loss) income, net of tax                                                                | $ | (36,929 | ) |   | $ | 1,766 |  |   | $ | (13,913 | ) |
| Comprehensive loss                                                                                                 | $ | (25,976 | ) |   | $ | (17,161 | ) |   | $ | (160,892 | ) |
| Less: comprehensive loss attributable to non-controlling interests                                                 | — |  |   | (172 | ) |   | (528 | ) |
| Comprehensive loss attributable to Checkpoint Systems, Inc.                                                        | $ | (25,976 | ) |   | $ | (16,989 | ) |   | $ | (160,364 | ) |

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|                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                                   | Checkpoint Systems, Inc. Stockholders |   |   |
|                                                                     | Common Stock | Additional Capital | Retained Earnings | Treasury Stock | AccumulatedOtherComprehensiveIncome | Non-controlling Interests | Total Equity |
|                                                                     | Shares | Amount | Shares | Amount |
| Balance, December 25, 2011                                               | 44,241 |  | $ | 4,424 |  | $ | 418,211 |  | $ | 142,094 |  | 4,036 |  | $ | (71,520 | ) | $ | 14,220 |  | $ | 1,216 |  | $ | 508,645 |  |
| Net loss                                                                 |   |   |   | (146,450 | ) |   |   |   | (529 | ) | (146,979 | ) |
| Exercise of stock-based compensation and awards released                 | 522 |  | 52 |  | 1,108 |  |   |   |   |   |   | 1,160 |  |
| Tax benefit of stock-based compensation                                  |   |   | (306 | ) |   |   |   |   |   | (306 | ) |
| Stock-based compensation expense                                         |   |   | 4,837 |  |   |   |   |   |   | 4,837 |  |
| Deferred compensation plan                                               |   |   | 865 |  |   |   |   |   |   | 865 |  |
| Amortization of pension plan actuarial losses, net of tax                |   |   |   |   |   |   | 218 |  |   | 218 |  |
| Change in realized and unrealized gains on derivative hedges, net of tax |   |   |   |   |   |   | (1,521 | ) |   | (1,521 | ) |
| Recognized loss on pension, net of tax                                   |   |   |   |   |   |   | (12,797 | ) |   | (12,797 | ) |
| Foreign currency translation adjustment                                  |   |   |   |   |   |   | 186 |  | 1 |  | 187 |  |
| Balance, December 30, 2012                                               | 44,763 |  | $ | 4,476 |  | $ | 424,715 |  | $ | (4,356 | ) | 4,036 |  | $ | (71,520 | ) | $ | 306 |  | $ | 688 |  | $ | 354,309 |  |
| Net loss (earnings)                                                      |   |   |   | (18,928 | ) |   |   |   | 1 |  | (18,927 | ) |
| Exercise of stock-based compensation and awards released                 | 721 |  | 72 |  | 2,489 |  |   |   |   |   |   | 2,561 |  |
| Tax benefit on stock-based compensation                                  |   |   | 82 |  |   |   |   |   |   | 82 |  |
| Stock-based compensation expense                                         |   |   | 6,369 |  |   |   |   |   |   | 6,369 |  |
| Deferred compensation plan                                               |   |   | 681 |  |   |   |   |   |   | 681 |  |
| Sale of interest in subsidiary                                           |   |   |   |   |   |   |   | (516 | ) | (516 | ) |
| Amortization of pension plan actuarial losses, net of tax                |   |   |   |   |   |   | 1,120 |  |   | 1,120 |  |
| Change in realized and unrealized loss on derivative hedges, net of tax  |   |   |   |   |   |   | (21 | ) |   | (21 | ) |
| Recognized loss on pension, net of tax                                   |   |   |   |   |   |   | 1,403 |  |   | 1,403 |  |
| Prior service cost arising during period, net of tax                     |   |   |   |   |   |   | (158 | ) |   | (158 | ) |
| Foreign currency translation adjustment                                  |   |   |   |   |   |   | (405 | ) | (173 | ) | (578 | ) |
| Balance, December 29, 2013                                               | 45,484 |  | $ | 4,548 |  | $ | 434,336 |  | $ | (23,284 | ) | 4,036 |  | $ | (71,520 | ) | $ | 2,245 |  | $ | — |  | $ | 346,325 |  |
| Net earnings                                                             |   |   |   | 10,953 |  |   |   |   | — |  | 10,953 |  |
| Exercise of stock-based compensation and awards released                 | 356 |  | 36 |  | 907 |  |   |   |   |   |   | 943 |  |
| Tax benefit on stock-based compensation                                  |   |   | (14 | ) |   |   |   |   |   | (14 | ) |
| Stock-based compensation expense                                         |   |   | 5,781 |  |   |   |   |   |   | 5,781 |  |
| Deferred compensation plan                                               |   |   | 872 |  |   |   |   |   |   | 872 |  |
| Amortization of pension plan actuarial losses, net of tax                |   |   |   |   |   |   | 1,501 |  |   | 1,501 |  |
| Recognized loss on pension, net of tax                                   |   |   |   |   |   |   | (22,334 | ) |   | (22,334 | ) |
| Prior service cost arising during period, net of tax                     |   |   |   |   |   |   | (229 | ) |   | (229 | ) |
| Foreign currency translation adjustment                                  |   |   |   |   |   |   | (15,867 | ) |  |  | (15,867 | ) |
| Balance, December 28, 2014                                               | 45,840 |  | $ | 4,584 |  | $ | 441,882 |  | $ | (12,331 | ) | 4,036 |  | $ | (71,520 | ) | $ | (34,684 | ) | $ | — |  | $ | 327,931 |  |

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|                                                                                            |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                                                     |   |   |   |   |   |
| Year ended                                                                                 | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Cash flows from operating activities:                                                      |   |   |   |   |   |
| Net earnings (loss)                                                                        | $ | 10,953 |  |   | $ | (18,927 | ) |   | $ | (146,979 | ) |
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |   |  |   |   |  |   |   |  |
| Depreciation and amortization                                                              | 25,150 |  |   | 26,373 |  |   | 30,369 |  |
| Amortization of debt issuance costs                                                        | 433 |  |   | 2,207 |  |   | 2,345 |  |
| Interest on financing liability                                                            | 2,222 |  |   | 2,082 |  |   | 1,893 |  |
| Deferred taxes                                                                             | 17,373 |  |   | (3,565 | ) |   | (2,930 | ) |
| Stock-based compensation                                                                   | 5,781 |  |   | 6,369 |  |   | 4,753 |  |
| Provision for losses on accounts receivable                                                | (144 | ) |   | (435 | ) |   | 3,024 |  |
| Excess tax benefit on stock compensation                                                   | (214 | ) |   | (600 | ) |   | (98 | ) |
| Loss (gain) on disposal of fixed assets                                                    | 220 |  |   | 564 |  |   | (1,326 | ) |
| Litigation settlement                                                                      | 2,200 |  |   | (6,584 | ) |   | 295 |  |
| Asset impairment                                                                           | 864 |  |   | 4,820 |  |   | 1,771 |  |
| Goodwill impairment                                                                        | — |  |   | — |  |   | 106,348 |  |
| Gain on sale of subsidiary                                                                 | — |  |   | (248 | ) |   | (1,657 | ) |
| Loss on sale of discontinued operations                                                    | — |  |   | 13,598 |  |   | 15 |  |
| Restructuring-related asset impairment                                                     | 172 |  |   | 1,211 |  |   | 6,506 |  |
| Decrease (increase) in operating assets, net of the effects of acquired companies:         |   |  |   |   |  |   |   |  |
| Accounts receivable                                                                        | 26,626 |  |   | 12,903 |  |   | 26,317 |  |
| Inventories                                                                                | (14,198 | ) |   | (948 | ) |   | 37,947 |  |
| Other assets                                                                               | 2,879 |  |   | 4,947 |  |   | 7,828 |  |
| (Decrease) increase in operating liabilities, net of the effects of acquired companies:    |   |  |   |   |  |   |   |  |
| Accounts payable                                                                           | (16,177 | ) |   | 1,954 |  |   | (2,185 | ) |
| Income taxes                                                                               | (2,314 | ) |   | (198 | ) |   | (1,502 | ) |
| Unearned revenues - current                                                                | (667 | ) |   | (6,244 | ) |   | (6,923 | ) |
| Restructuring reserve                                                                      | (1,164 | ) |   | (1,598 | ) |   | (8,178 | ) |
| Other liabilities                                                                          | 5,547 |  |   | (16,611 | ) |   | 4,732 |  |
| Net cash provided by operating activities                                                  | 65,542 |  |   | 21,070 |  |   | 62,365 |  |
| Cash flows from investing activities:                                                      |   |  |   |   |  |   |   |  |
| Acquisition of property, plant, and equipment and intangibles                              | (17,971 | ) |   | (8,946 | ) |   | (12,401 | ) |
| Change in restricted cash                                                                  | — |  |   | — |  |   | 291 |  |
| Proceeds from sale of real estate                                                          | — |  |   | — |  |   | 4,560 |  |
| Net cash proceeds from the sale of discontinued operations                                 | 283 |  |   | 1,573 |  |   | 1,180 |  |
| Net cash proceeds from the sale of subsidiary                                              | — |  |   | 227 |  |   | 2,250 |  |
| Other investing activities                                                                 | 83 |  |   | 1,848 |  |   | 1,671 |  |
| Net cash used in investing activities                                                      | (17,605 | ) |   | (5,298 | ) |   | (2,449 | ) |
| Cash flows from financing activities:                                                      |   |  |   |   |  |   |   |  |
| Proceeds from stock issuances                                                              | 1,980 |  |   | 4,073 |  |   | 1,653 |  |
| Excess tax benefit on stock compensation                                                   | 214 |  |   | 600 |  |   | 98 |  |
| Proceeds from short-term debt                                                              | — |  |   | 2,759 |  |   | 3,467 |  |
| Payment of short-term debt                                                                 | — |  |   | (2,561 | ) |   | (11,869 | ) |
| Net change in factoring and overdrafts                                                     | (94 | ) |   | (877 | ) |   | (8,932 | ) |
| Proceeds from long-term debt                                                               | 1,000 |  |   | 99,098 |  |   | 3,000 |  |
| Payment of long-term debt                                                                  | (27,235 | ) |   | (112,664 | ) |   | (20,498 | ) |
| Debt issuance costs                                                                        | — |  |   | (1,765 | ) |   | (2,085 | ) |
| Net cash used in financing activities                                                      | (24,135 | ) |   | (11,337 | ) |   | (35,166 | ) |
| Effect of foreign currency rate fluctuations on cash and cash equivalents                  | (9,838 | ) |   | (1,691 | ) |   | 747 |  |
| Net increase in cash and cash equivalents                                                  | 13,964 |  |   | 2,744 |  |   | 25,497 |  |
| Cash and cash equivalents:                                                                 |   |  |   |   |  |   |   |
| Beginning of period                                                                        | 121,573 |  |   | 118,829 |  |   | 93,332 |  |
| End of period                                                                              | $ | 135,537 |  |   | $ | 121,573 |  |   | $ | 118,829 |  |

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|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |
| (amounts in thousands)                  | December 28, 2014 |  |   | December 29, 2013 |  |
| Balance at beginning of year            | $ | 4,521 |  |   | $ | 3,995 |  |
| Accruals for warranties issued          | 4,044 |  |   | 4,665 |  |
| Settlements made                        | (3,867 | ) |   | (4,148 | ) |
| Foreign currency translation adjustment | (319 | ) |   | 9 |  |
| Balance at end of period                | $ | 4,379 |  |   | $ | 4,521 |  |

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |
| Year Ended                            | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Weighted-average fair value of grants | $ | 6.41 |  |   | $ | 5.46 |  |   | $ | 4.38 |  |
| Valuation assumptions:                |   |  |   |   |  |   |   |  |
| Expected dividend yield               | 0.00 | % |   | 0.00 | % |   | 0.00 | % |
| Expected volatility                   | 48.09 | % |   | 50.79 | % |   | 52.08 | % |
| Expected life (in years)              | 5.12 |  |   | 5.08 |  |   | 5.06 |  |
| Risk-free interest rate               | 1.465 | % |   | 0.835 | % |   | 0.750 | % |

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|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                      | Pension Plan |  |   |   | Foreign currency translation adjustment |  |   | Total accumulated other comprehensive income |  |
| Balance, December 29, 2013                             | $ | (17,773 | ) |   |   | $ | 20,018 |  |   | $ | 2,245 |  |
| Other comprehensive (loss) income before reclassifications  | (18,764 | ) |   |   | (19,666 | ) |   | (38,430 | ) |
| Amounts reclassified from other comprehensive income (loss) | 1,501 |  |   |   | — |  |   | 1,501 |  |
| Net other comprehensive income (loss)                       | (17,263 | ) |   |   | (19,666 | ) |   | (36,929 | ) |
| Balance, December 28, 2014                             | $ | (35,036 | ) |   |   | $ | 352 |  |   | $ | (34,684 | ) |

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|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |
| (amounts in thousands)                                                 |   |   |   |
| Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated other comprehensive income (loss) |  |   | Affected line item in the statement where net loss is presented |
| Amortization of pension plan items                                     |   |   |   |
| Actuarial loss (1)                                                     | $ | (1,495 | ) |   |   |
| Prior service cost (1)                                                 | (12 | ) |   |   |
|                                                                   | (1,507 | ) |   | Total before tax |
|                                                                   | 6 |  |   | Tax benefit |
|                                                                   | $ | (1,501 | ) |   | Net of tax |
|                                                                   |   |   |   |
| Total reclassifications for the period                                 | $ | (1,501 | ) |   |   |

|          |                                                                                                                                                                                   |
|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | These accumulated other comprehensive income components are included in the computation of net periodic pension costs. Refer to Note 13 of the Consolidated Financial Statements. |

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|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |
| (amounts in thousands) | December 28, 2014 |  |   | December 29, 2013 |  |
| Raw materials          | $ | 21,085 |  |   | $ | 18,040 |  |
| Work-in-process        | 3,264 |  |   | 2,901 |  |
| Finished goods         | 67,511 |  |   | 62,580 |  |
| Total                  | $ | 91,860 |  |   | $ | 83,521 |  |

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |
| (amounts in thousands)                     | December 28, 2014 |  |   | December 29, 2013 |  |
| Revenue equipment on operating lease       |   |   |   |
| Equipment rented to customers              | $ | 3,818 |  |   | $ | 4,691 |  |
| Accumulated depreciation                   | (2,761 | ) |   | (3,424 | ) |
| Total revenue equipment on operating lease | $ | 1,057 |  |   | $ | 1,267 |  |
|                                       |   |   |   |
| Property, plant, and equipment             |   |   |   |
| Land                                       | $ | 6,657 |  |   | $ | 7,529 |  |
| Buildings                                  | 51,645 |  |   | 54,470 |  |
| Machinery and equipment                    | 138,432 |  |   | 141,393 |  |
| Leasehold improvements                     | 13,836 |  |   | 15,329 |  |
| Construction in progress                   | 6,922 |  |   | 1,400 |  |
|                                       | 217,492 |  |   | 220,121 |  |
| Accumulated depreciation                   | (141,160 | ) |   | (145,054 | ) |
| Total property, plant, and equipment       | $ | 76,332 |  |   | $ | 75,067 |  |

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|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                           |   |   | December 28, 2014 |   | December 29, 2013 |
| (amounts in thousands)                         | AmortizableLife(years) |   | GrossAmount |  |   | GrossAccumulatedAmortization |  |   | GrossAmount |  |   | GrossAccumulatedAmortization |  |
| Finite-lived intangible assets:                |   |   |   |   |   |   |   |   |   |
| Customer lists                                 | 6 to 20 |   | $ | 79,110 |  |   | $ | 58,873 |  |   | $ | 83,063 |  |   | $ | 56,798 |  |
| Trade names                                    | 1 to 30 |   | 27,172 |  |   | 18,031 |  |   | 30,256 |  |   | 19,346 |  |
| Patents, license agreements                    | 3 to 14 |   | 58,060 |  |   | 52,448 |  |   | 61,820 |  |   | 54,225 |  |
| Internal-use software                          | 3 to 7 |   | 24,034 |  |   | 14,758 |  |   | 24,039 |  |   | 12,358 |  |
| Other                                          | 2 to 6 |   | 7,029 |  |   | 6,867 |  |   | 7,132 |  |   | 6,793 |  |
| Total amortized finite-lived intangible assets |   |   | 195,405 |  |   | 150,977 |  |   | 206,310 |  |   | 149,520 |  |
|                                           |   |   |   |   |   |   |   |   |   |
| Indefinite-lived intangible assets:            |   |   |   |   |   |   |   |   |   |
| Trade names                                    |   |   | 20,512 |  |   | — |  |   | 21,376 |  |   | — |  |
| Total identifiable intangible assets           |   |   | $ | 215,917 |  |   | $ | 150,977 |  |   | $ | 227,686 |  |   | $ | 149,520 |  |

|                        |
|------------------------|
|                        |  |  |  |
| (amounts in thousands) |   |
| 2015                   | $ | 11,350 |  |
| 2016                   | $ | 11,015 |  |
| 2017                   | $ | 10,604 |  |
| 2018                   | $ | 9,530 |  |
| 2019                   | $ | 3,665 |  |

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|                                 |
|---------------------------------|
|                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)          | MerchandiseAvailabilitySolutions |  |   | ApparelLabelingSolutions |  |   | RetailMerchandisingSolutions |  |   | Total |  |
| Balance as of December 30, 2012 | $ | 159,031 |  |   | $ | — |  |   | $ | 23,710 |  |   | $ | 182,741 |  |
| Segment reallocation            | (2,116 | ) |   | 2,116 |  |   | — |  |   | — |  |
| Translation adjustments         | 2,242 |  |   | — |  |   | 881 |  |   | 3,123 |  |
| Balance as of December 29, 2013 | $ | 159,157 |  |   | $ | 2,116 |  |   | $ | 24,591 |  |   | $ | 185,864 |  |
| Translation adjustments         | (9,511 | ) |   | — |  |   | (2,784 | ) |   | (12,295 | ) |
| Balance as of December 28, 2014 | $ | 149,646 |  |   | $ | 2,116 |  |   | $ | 21,807 |  |   | $ | 173,569 |  |

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                               | December 28, 2014 |   | December 29, 2013 |
| (amounts in thousands)             | GrossAmount |  |   | AccumulatedImpairmentLosses |  |   | Goodwill,Net |  |   | GrossAmount |  |   | AccumulatedImpairmentLosses |  |   | Goodwill,net |  |
| Merchandise Availability Solutions | $ | 192,303 |  |   | $ | 42,657 |  |   | $ | 149,646 |  |   | $ | 207,589 |  |   | $ | 48,432 |  |   | $ | 159,157 |  |
| Apparel Labeling Solutions         | 84,407 |  |   | 82,291 |  |   | 2,116 |  |   | 86,764 |  |   | 84,648 |  |   | 2,116 |  |
| Retail Merchandising Solutions     | 124,127 |  |   | 102,320 |  |   | 21,807 |  |   | 138,098 |  |   | 113,507 |  |   | 24,591 |  |
| Total goodwill                     | $ | 400,837 |  |   | $ | 227,268 |  |   | $ | 173,569 |  |   | $ | 432,451 |  |   | $ | 246,587 |  |   | $ | 185,864 |  |

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|                                                                   |
|-------------------------------------------------------------------|
|                                                                   |  |  |  |  |  |  |  |
| (amounts in thousands)                                            | December 28, 2014 |  |   | December 29, 2013 |  |
| Overdraft                                                         | $ | 65 |  |   | $ | — |  |
| Current portion of long-term debt                                 | 171 |  |   | 435 |  |
| Total short-term borrowings and current portion of long-term debt | $ | 236 |  |   | $ | 435 |  |

|                                                                                                              |
|--------------------------------------------------------------------------------------------------------------|
|                                                                                                              |  |  |  |  |  |  |  |
|  (amounts in thousands)                                                                                 | December 28, 2014 |  |   | December 29, 2013 |  |
| 2013 Senior Secured Credit Facility:                                                                         |   |   |   |
|      $200 million variable interest rate revolving credit facility maturing in 2018 | $ | 65,000 |  |   | $ | 90,000 |  |
| Full-recourse factoring liabilities                                                                          | 83 |  |   | 257 |  |
| Other capital leases with maturities through 2019                                                            | 249 |  |   | 1,365 |  |
| Total(1)                                                                                                     | 65,332 |  |   | 91,622 |  |
| Less current portion                                                                                         | 171 |  |   | 435 |  |
| Total long-term portion                                                                                      | $ | 65,161 |  |   | $ | 91,187 |  |

|           |                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------|
| (1)  | The weighted average interest rates for 2014 and 2013 were 1.5% and 2.2%, respectively. |

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|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands) | Debt |  |   | CapitalLeases |  |   | TotalDebt(1) |  |
| 2015                   | $ | 83 |  |   | $ | 88 |  |   | $ | 171 |  |
| 2016                   | — |  |   | 98 |  |   | 98 |  |
| 2017                   | — |  |   | 48 |  |   | 48 |  |
| 2018                   | 65,000 |  |   | 13 |  |   | 65,013 |  |
| 2019                   | — |  |   | 2 |  |   | 2 |  |
| Thereafter             | — |  |   | — |  |   | — |  |
| Total                  | $ | 65,083 |  |   | $ | 249 |  |   | $ | 65,332 |  |

|          |                                                                                                                                 |
|----------|---------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Excludes Overdraft, included in Short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheets. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The terms of outstanding awards may not be amended to (i) reduce the exercise price of outstanding stock options or stock appreciation rights (SARs), or (ii) cancel, exchange, substitute, buy out or surrender outstanding options or SARs in exchange for cash, other awards, stock options or SARs with an exercise price that is less than the exercise price of the original stock options or SARs (as applicable) without shareholder approval |

|         |                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Shares of the Company’s common stock are limited from again being made available for issuance under the 2004 Plan when: (i) shares of common stock not issued or delivered as a result of the net settlement of an outstanding SAR or stock option, (ii) shares of common stock used to pay the exercise price or withholding taxes related to an |

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|         |                                                                                                                                                                                                                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | There is a minimum exercise price with respect to stock options or SARs to be granted under the 2004 Plan such that no stock option or SAR may be granted under the Plan with a per share exercise price that is less than 100% of the fair market value of one share of the Company’s common stock on the date of grant |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | There is a limitation against the payment of any cash dividend or dividend equivalent right (DER) with respect to awards that vest based upon the attainment of one or more performance measures such that no awards granted under the 2004 Plan based upon the attainment of one or more performance measures will be entitled to receive payment of any cash dividends or DERs with respect to such awards unless and until such awards vest. |

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|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                             | Number ofShares |  |   | Weighted-AverageExercisePrice |  |   | Weighted-AverageRemainingContractualTerm(in years) |   | AggregateIntrinsicValue(in thousands) |  |
| Outstanding at December 29, 2013                 | 2,450,660 |  |   | $ | 17.70 |  |   | 4.35 |   | $ | 4,285 |  |
| Granted                                          | 212,080 |  |   | 14.78 |  |   |   |   |   |
| Exercised                                        | (69,836 | ) |   | 9.05 |  |   |   |   |   |
| Forfeited or expired                             | (243,457 | ) |   | 16.93 |  |   |   |   |   |
| Outstanding at December 28, 2014                 | 2,349,447 |  |   | $ | 17.77 |  |   | 3.98 |   | $ | 2,716 |  |
| Vested and expected to vest at December 28, 2014 | 2,312,566 |  |   | $ | 17.85 |  |   | 3.90 |   | $ | 2,642 |  |
| Exercisable at December 28, 2014                 | 1,932,834 |  |   | $ | 18.89 |  |   | 3.02 |   | $ | 1,971 |  |

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|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |
|                                             | Number ofShares |  |   | Weighted-AverageVest Date(in years) |  |   | Weighted-AverageGrant DateFair Value |  |
| Nonvested at December 29, 2013                   | 852,508 |  |   | 0.64 |  |   | $ | 17.36 |  |
| Granted                                          | 349,040 |  |   |   |   | $ | 14.38 |  |
| Vested                                           | (198,353 | ) |   |   |   | $ | 14.73 |  |
| Forfeited                                        | (62,338 | ) |   |   |   | $ | 12.81 |  |
| Nonvested at December 28, 2014                   | 940,857 |  |   | 0.56 |  |   | $ | 17.11 |  |
| Vested and expected to vest at December 28, 2014 | 905,394 |  |   | 0.51 |  |   |   |  |
| Vested at December 28, 2014                      | 61,250 |  |   | — |  |   |   |  |

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |
| (amounts in thousands)                        | December 28, 2014 |  |   | December 29, 2013 |  |
| Actuarial losses on pension plans, net of tax | $ | (35,036 | ) |   | $ | (17,773 | ) |
| Foreign currency translation adjustment       | 352 |  |   | 20,018 |  |
| Total                                         | $ | (34,684 | ) |   | $ | 2,245 |  |

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|                                                                                                                              |
|------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                              |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands, except per share data)                                                                                | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Basic earnings (loss) from continuing operations attributable to Checkpoint Systems, Inc. available to common stockholders   | $ | 10,953 |  |   | $ | (1,772 | ) |   | $ | (138,491 | ) |
| Basic loss from discontinued operations, net of tax (benefit) expense of $0, ($68), and $247                                 | $ | — |  |   | $ | (17,156 | ) |   | $ | (7,959 | ) |
| Diluted earnings (loss) from continuing operations attributable to Checkpoint Systems, Inc. available to common stockholders | $ | 10,953 |  |   | $ | (1,772 | ) |   | $ | (138,491 | ) |
| Diluted loss from discontinued operations, net of tax (benefit) expense  of $0, ($68), and $247                              | $ | — |  |   | $ | (17,156 | ) |   | $ | (7,959 | ) |
| Shares:                                                                                                                      |   |   |   |   |   |
| Weighted average number of common shares outstanding                                                                         | 41,683 |  |   | 41,128 |  |   | 40,476 |  |
| Shares issuable under deferred compensation agreements                                                                       | 368 |  |   | 393 |  |   | 524 |  |
| Basic weighted average number of common shares outstanding                                                                   | 42,051 |  |   | 41,521 |  |   | 41,000 |  |
| Common shares assumed upon exercise of stock options and awards                                                              | 312 |  |   | — |  |   | — |  |
| Unvested shares issuable under deferred compensation arrangements                                                            | 11 |  |   | — |  |   | — |  |
| Dilutive weighted average number of common shares outstanding                                                                | 42,374 |  |   | 41,521 |  |   | 41,000 |  |
| Basic earnings (loss) attributable to Checkpoint Systems, Inc. per share:                                                    |   |   |   |   |   |
| Earnings (loss) from continuing operations                                                                                   | $ | 0.26 |  |   | $ | (0.05 | ) |   | $ | (3.37 | ) |
| Loss from discontinued operations, net of tax                                                                                | — |  |   | (0.41 | ) |   | (0.20 | ) |
| Basic earnings (loss) attributable to Checkpoint Systems, Inc. per share                                                     | $ | 0.26 |  |   | $ | (0.46 | ) |   | $ | (3.57 | ) |
| Diluted earnings (loss) attributable to Checkpoint Systems, Inc. per share:                                                  |   |   |   |   |   |
| Earnings (loss) from continuing operations                                                                                   | $ | 0.26 |  |   | $ | (0.05 | ) |   | $ | (3.37 | ) |
| Loss from discontinued operations, net of tax                                                                                | — |  |   | (0.41 | ) |   | (0.20 | ) |
| Diluted earnings (loss) attributable to Checkpoint Systems, Inc. per share                                                   | $ | 0.26 |  |   | $ | (0.46 | ) |   | $ | (3.57 | ) |

|                                                                                                                                                                 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                 |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                                                                                                                          | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Weighted average potential common shares associated with anti-dilutive stock options and restricted stock units excluded from the computation of diluted EPS(1) | 1,959 |  |   | 2,368 |  |   | 3,107 |  |

|           |                                                                                                                                                                                                                                                                                                                                      |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for stock options and awards of 361 shares and 61 shares and deferred compensation arrangements of 21 shares and 12 shares were anti-dilutive in fiscal 2013 and 2012, respectively. These shares were therefore excluded from the earnings per share calculation due to our net loss for the years. |

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|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands) | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Domestic               | $ | 14,200 |  |   | $ | (11,014 | ) |   | $ | (54,066 | ) |
| Foreign                | 19,974 |  |   | 12,914 |  |   | (78,949 | ) |
| Total                  | $ | 34,174 |  |   | $ | 1,900 |  |   | $ | (133,015 | ) |

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)  | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Currently payable       |   |   |   |   |   |
| Federal                 | $ | (41 | ) |   | $ | (2,218 | ) |   | $ | 2,544 |  |
| State                   | 63 |  |   | 73 |  |   | 88 |  |
| Puerto Rico             | 77 |  |   | (275 | ) |   | 354 |  |
| Foreign                 | 5,746 |  |   | 9,519 |  |   | 5,949 |  |
| Total currently payable | 5,845 |  |   | 7,099 |  |   | 8,935 |  |
|                    |   |   |   |   |   |
| Deferred                |   |  |   |   |  |   |   |  |
| Federal                 | 2,145 |  |   | 3,701 |  |   | (792 | ) |
| State                   | 14 |  |   | 35 |  |   | 227 |  |
| Puerto Rico             | — |  |   | 314 |  |   | 763 |  |
| Foreign                 | 15,217 |  |   | (7,478 | ) |   | (3,128 | ) |
| Total deferred          | 17,376 |  |   | (3,428 | ) |   | (2,930 | ) |
| Total provision         | $ | 23,221 |  |   | $ | 3,671 |  |   | $ | 6,005 |  |

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|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |
| (amounts in thousands)                                  | December 28, 2014 |  |   | December 29, 2013 |  |
| Inventory                                               | $ | 3,821 |  |   | $ | 4,472 |  |
| Accounts receivable                                     | 1,093 |  |   | 2,279 |  |
| Capitalized research and development costs              | 23,938 |  |   | 22,986 |  |
| Financing liability                                     | 7,276 |  |   | 9,168 |  |
| Net operating loss and foreign tax credit carryforwards | 88,442 |  |   | 101,396 |  |
| Interest carryforward                                   | 4,661 |  |   | 6,691 |  |
| Deferred revenue                                        | 1,455 |  |   | 988 |  |
| Pension                                                 | 17,967 |  |   | 13,221 |  |
| Uncertain tax positions                                 | 11,628 |  |   | 11,190 |  |
| Deferred compensation                                   | 3,278 |  |   | 2,871 |  |
| Stock based compensation                                | 8,861 |  |   | 8,756 |  |
| Depreciation                                            | 1,623 |  |   | 1,851 |  |
| Other                                                   | 4,557 |  |   | 4,847 |  |
| Valuation allowance                                     | (148,838 | ) |   | (145,508 | ) |
| Deferred tax assets                                     | 29,762 |  |   | 45,208 |  |
| Intangibles                                             | 10,831 |  |   | 10,756 |  |
| Unremitted earnings                                     | 6,177 |  |   | 2,983 |  |
| Deferred tax liabilities                                | 17,008 |  |   | 13,739 |  |
| Net deferred tax assets                                 | $ | 12,754 |  |   | $ | 31,469 |  |

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|                                                                                                    |
|----------------------------------------------------------------------------------------------------|
|                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                                                             | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Tax provision at the statutory federal income tax rate                                             | $ | 11,961 |  |   | $ | 665 |  |   | $ | (46,555 | ) |
| Unremitted earnings                                                                                | 4,281 |  |   | 60 |  |   | 690 |  |
| Non-deductible permanent items                                                                     | 1,220 |  |   | 1,677 |  |   | 1,566 |  |
| Non-deductible goodwill impairment                                                                 | — |  |   | — |  |   | 32,503 |  |
| State and local income taxes, net of federal benefit                                               | 55 |  |   | 82 |  |   | (467 | ) |
| Current year income or losses with no tax benefit or expense recognized due to valuation allowance | (8,551 | ) |   | (165 | ) |   | 38,606 |  |
| Effect of foreign operations                                                                       | 3,143 |  |   | 1,041 |  |   | (19,198 | ) |
| Potential tax contingencies                                                                        | (634 | ) |   | 160 |  |   | (1,052 | ) |
| Change in valuation allowance                                                                      | 11,297 |  |   | (125 | ) |   | 283 |  |
| Stock based compensation                                                                           | 316 |  |   | 315 |  |   | 994 |  |
| Other                                                                                              | 133 |  |   | (39 | ) |   | (1,365 | ) |
| Tax provision at the effective tax rate                                                            | $ | 23,221 |  |   | $ | 3,671 |  |   | $ | 6,005 |  |

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                               | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Gross unrecognized tax benefits at beginning of year | $ | 26,592 |  |   | $ | 24,436 |  |   | $ | 22,543 |  |
| Increases in tax positions for prior years           | 585 |  |   | 910 |  |   | 225 |  |
| Decreases in tax positions for prior years           | — |  |   | (1,083 | ) |   | (1,068 | ) |
| Increases in tax positions for current year          | 1,164 |  |   | 4,003 |  |   | 5,209 |  |
| Settlements                                          | — |  |   | — |  |   | (683 | ) |
| Acquisition reserves                                 | — |  |   | — |  |   | 1,166 |  |
| Lapse in statute of limitations                      | (2,442 | ) |   | (1,674 | ) |   | (2,956 | ) |
| Gross unrecognized tax benefits at end of year       | $ | 25,899 |  |   | $ | 26,592 |  |   | $ | 24,436 |  |

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|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |
| (amounts in thousands) | December 28, 2014 |  |   | December 29, 2013 |  |
| Prior service costs    | $ | 421 |  |   | $ | 172 |  |
| Actuarial losses       | 42,718 |  |   | 26,452 |  |
| Total                  | 43,139 |  |   | 26,624 |  |
| Deferred tax           | (8,103 | ) |   | (8,851 | ) |
| Net                    | $ | 35,036 |  |   | $ | 17,773 |  |

|                        |
|------------------------|
|                        |  |  |  |
| (amounts in thousands) | December 27, 2015 |  |
| Prior service costs    | $ | 28 |  |
| Actuarial loss         | 3,230 |  |
| Total                  | $ | 3,258 |  |

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Service cost                          | $ | 1,097 |  |   | $ | 1,081 |  |   | $ | 851 |  |
| Interest cost                         | 3,555 |  |   | 3,537 |  |   | 3,874 |  |
| Expected return on plan assets        | (1 | ) |   | 103 |  |   | 41 |  |
| Amortization of actuarial loss        | 1,495 |  |   | 1,567 |  |   | 224 |  |
| Amortization of transition obligation | — |  |   | — |  |   | 57 |  |
| Amortization of prior service costs   | 12 |  |   | 2 |  |   | 2 |  |
| Net periodic pension cost             | 6,158 |  |   | 6,290 |  |   | 5,049 |  |
| Curtailment loss                      | — |  |   | — |  |   | 72 |  |
| Total pension expense                 | $ | 6,158 |  |   | $ | 6,290 |  |   | $ | 5,121 |  |

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|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |
| (amounts in thousands)                         | December 28, 2014 |  |   | December 29, 2013 |  |
| Change in benefit obligation                   |   |   |   |
| Net benefit obligation at beginning of year    | $ | 107,029 |  |   | $ | 104,364 |  |
| Service cost                                   | 1,097 |  |   | 1,081 |  |
| Interest cost                                  | 3,555 |  |   | 3,537 |  |
| Actuarial loss (gain)                          | 23,975 |  |   | (1,538 | ) |
| Gross benefits paid                            | (4,743 | ) |   | (4,773 | ) |
| Plan amendments                                | 306 |  |   | 158 |  |
| Foreign currency exchange rate changes         | (14,270 | ) |   | 4,200 |  |
| Net benefit obligation at end of year          | $ | 116,949 |  |   | $ | 107,029 |  |
|                                           |   |   |   |
| Change in plan assets                          |   |   |   |
| Fair value of plan assets at beginning of year | $ | 2,339 |  |   | $ | 1,488 |  |
| Actual return on assets                        | 1,422 |  |   | 330 |  |
| Employer contributions                         | 4,942 |  |   | 5,206 |  |
| Gross benefits paid                            | (4,743 | ) |   | (4,773 | ) |
| Foreign currency exchange rate changes         | (403 | ) |   | 88 |  |
| Fair value of plan assets at end of year       | $ | 3,557 |  |   | $ | 2,339 |  |
|                                           |   |   |   |
| Reconciliation of funded status                |   |   |   |
| Funded status at end of year                   | $ | (113,392 | ) |   | $ | (104,690 | ) |

|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |
| (amounts in thousands)                                                            | December 28, 2014 |  |   | December 29, 2013 |  |
| Amounts recognized in accrued benefit consist of:                                 |   |   |   |
| Accrued pensions — current                                                  | $ | 4,472 |  |   | $ | 5,013 |  |
| Accrued pensions                                                                  | 108,920 |  |   | 99,677 |  |
| Net amount recognized at end of year                                              | $ | 113,392 |  |   | $ | 104,690 |  |
| Other comprehensive income attributable to prior service cost arising during year | $ | 306 |  |   | $ | 158 |  |
| Accumulated benefit obligation at end of year                                     | $ | 110,204 |  |   | $ | 101,341 |  |

|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |
| (amounts in thousands)         | December 28, 2014 |  |   | December 29, 2013 |  |
| Projected benefit obligation   | $ | 116,949 |  |   | $ | 107,029 |  |
| Accumulated benefit obligation | $ | 110,204 |  |   | $ | 101,341 |  |
| Fair value of plan assets      | $ | 3,557 |  |   | $ | 2,339 |  |

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|                                                                         |
|-------------------------------------------------------------------------|
|                                                                         |  |  |  |  |  |  |  |  |
|                                                                    | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Weighted average assumptions for year-end benefit obligations:          |   |   |   |   |   |
| Discount rate(1)                                                        | 2.01 | % |   | 3.52 | % |   |   |
| Expected rate of increase in future compensation levels                 | 2.52 | % |   | 2.53 | % |   |   |
| Weighted average assumptions for net periodic benefit cost development: |   |   |   |   |   |
| Discount rate(1)                                                        | 3.52 | % |   | 3.53 | % |   | 4.77 | % |
| Expected rate of return on plan assets                                  | 3.90 | % |   | 4.50 | % |   | 5.25 | % |
| Expected rate of increase in future compensation levels                 | 2.53 | % |   | 2.52 | % |   | 2.52 | % |
| Measurement Date:                                                       | December 31, 2014 |  |   | December 31, 2013 |  |   | December 31, 2012 |  |

|           |                                                             |
|-----------|-------------------------------------------------------------|
| (1)  | Represents the weighted average rate for all pension plans. |

|                        |
|------------------------|
|                        |  |  |  |
| (amounts in thousands) |   |
| 2015                   | $ | 4,474 |  |
| 2016                   | $ | 4,455 |  |
| 2017                   | $ | 4,581 |  |
| 2018                   | $ | 4,655 |  |
| 2019                   | $ | 4,698 |  |
| 2020 through 2024      | $ | 24,954 |  |

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)  | Total Fair Value Measurement December 28, 2014 |  |   | Quoted PricesIn Active Markets for Identical Assets(Level 1) |  |   | SignificantOtherObservableInputs(Level 2) |  |   | SignificantUnobservableInputs(Level 3) |  |
| Global insurance assets | $ | 3,557 |  |   | $ | — |  |   | $ | — |  |   | $ | 3,557 |  |

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|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)  | Balance as of December 29, 2013 |  |   | Actual Returnon Plan Assets, Relating to Assets Still Held at the Reporting Date |  |   | Actual Returnon Plan Assets,Relating toAssets SoldDuring thePeriod |  |   | Purchases,Sales andSettlements |  |   | Transferinto / (out of)Level 3 |  |   | Change dueto ExchangeRate Changes |  |   | Balance as of December 28, 2014 |  |
| Asset Category          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Global insurance assets | $ | 2,339 |  |   | $ | 1,423 |  |   | $ | — |  |   | $ | 261 |  |   | $ | (62 | ) |   | $ | (404 | ) |   | $ | 3,557 |  |
| Total Level 3 Assets    | $ | 2,339 |  |   | $ | 1,423 |  |   | $ | — |  |   | $ | 261 |  |   | $ | (62 | ) |   | $ | (404 | ) |   | $ | 3,557 |  |

|        |
|--------|
|        |  |  |
|   | Level 1 | Inputs are quoted prices in active markets for identical assets or liabilities. |
|   |   |   |
|   | Level 2 | Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. |
|   |   |   |
|   | Level 3 | Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                      | Total Fair Value Measurement December 28, 2014 |  |   | Quoted PricesIn ActiveMarkets forIdentical Assets(Level 1) |  |   | SignificantOtherObservableInputs(Level 2) |  |   | SignificantUnobservableInputs(Level 3) |  |
| Foreign currency forward exchange contracts | $ | 55 |  |   | $ | — |  |   | $ | 55 |  |   | $ | — |  |
| Total assets                                | $ | 55 |  |   | $ | — |  |   | $ | 55 |  |   | $ | — |  |
|                                        |   |   |   |   |   |   |   |
| Foreign currency forward exchange contracts | $ | 23 |  |   | $ | — |  |   | $ | 23 |  |   | $ | — |  |
| Total liabilities                           | $ | 23 |  |   | $ | — |  |   | $ | 23 |  |   | $ | — |  |

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|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                      | Total Fair Value Measurement December 29, 2013 |  |   | Quoted PricesIn ActiveMarkets forIdentical Assets(Level 1) |  |   | SignificantOtherObservableInputs(Level 2) |  |   | SignificantUnobservableInputs(Level 3) |  |
| Foreign currency forward exchange contracts | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Total assets                                | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
|                                        |   |   |   |   |   |   |   |
| Foreign currency forward exchange contracts | $ | 18 |  |   | $ | — |  |   | $ | 18 |  |   | $ | — |  |
| Total liabilities                           | $ | 18 |  |   | $ | — |  |   | $ | 18 |  |   | $ | — |  |

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |
| (amounts in thousands)                 | December 28, 2014 |  |   | December 29, 2013 |  |
| Beginning balance, net of tax          | $ | — |  |   | $ | 21 |  |
| Changes in fair value gain, net of tax | — |  |   | — |  |
| Reclass to earnings, net of tax        | — |  |   | (21 | ) |
| Ending balance, net of tax             | $ | — |  |   | $ | — |  |

|                                                                                             |
|---------------------------------------------------------------------------------------------|
|                                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                        | December 28, 2014 |   | December 29, 2013 |
| (amounts in thousands)                                                                      | CarryingAmount |  |   | EstimatedFair Value |  |   | CarryingAmount |  |   | EstimatedFair Value |  |
| Long-term debt (including current maturities and excluding capital leases and factoring)(1) |   |   |   |   |   |   |   |
| 2013 Senior secured credit facility                                                         | $ | 65,000 |  |   | $ | 65,000 |  |   | $ | 90,000 |  |   | $ | 90,000 |  |

|           |                                                                                      |
|-----------|--------------------------------------------------------------------------------------|
| (1)  | The carrying amounts are reported on the balance sheet under the indicated captions. |

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|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                    | December 28, 2014 |   | December 29, 2013 |
|                                                    | Asset Derivatives |   | Liability Derivatives |   | Asset Derivatives |   | Liability Derivatives |
| (amounts in thousands)                                  | BalanceSheetLocation |   | FairValue |  |   | BalanceSheetLocation |   | FairValue |  |   | BalanceSheetLocation |   | FairValue |  |   | BalanceSheetLocation |   | FairValue |  |
| Derivatives designated as hedging instruments           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign currency revenue forecast contracts             | Other currentassets |   | $ | — |  |   | Other currentliabilities |   | $ | — |  |   | Other currentassets |   | $ | — |  |   | Other currentliabilities |   | $ | — |  |
| Total derivatives designated as hedging instruments     |   |   | — |  |   |   |   | — |  |   |   |   | — |  |   |   |   | — |  |
| Derivatives not designated as hedging instruments       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign currency forward exchange contracts             | Other currentassets |   | 55 |  |   | Other currentliabilities |   | 23 |  |   | Other currentassets |   | — |  |   | Other currentliabilities |   | 18 |  |
| Total derivatives not designated as hedging instruments |   |   | 55 |  |   |   |   | 23 |  |   |   |   | — |  |   |   |   | 18 |  |
| Total derivatives                                       |   |   | $ | 55 |  |   |   |   | $ | 23 |  |   |   |   | $ | — |  |   |   |   | $ | 18 |  |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        | December 28, 2014 |
|  (amounts in thousands)                | Amount of Gain (Loss)Recognizedin OtherComprehensiveIncome onDerivatives |  |   | Location ofGain (Loss)ReclassifiedFromAccumulatedOtherComprehensiveIncome intoIncome |   | Amount of Gain (Loss)ReclassifiedFromAccumulatedOtherComprehensiveIncome intoIncome |  |   | Amount ofForwardPointsRecognizedinOther Gain(Loss), net  |  |
| Derivatives designated as cash flow hedges  |   |  |   |   |   |   |  |   |   |  |
| Foreign currency revenue forecast contracts | $ | — |  |   | Cost of sales |   | $ | — |  |   | $ | — |  |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        | December 29, 2013 |
|  (amounts in thousands)                | Amount of Gain (Loss)Recognizedin OtherComprehensiveIncome onDerivatives |  |   | Location ofGain (Loss)ReclassifiedFromAccumulatedOtherComprehensiveIncome intoIncome |   | Amount of Gain (Loss)ReclassifiedFromAccumulatedOtherComprehensiveIncome intoIncome |  |   | Amount ofForwardPointsRecognizedinOther Gain(Loss), net  |  |
| Derivatives designated as cash flow hedges  |   |  |   |   |   |   |  |   |   |  |
| Foreign currency revenue forecast contracts | $ | — |  |   | Cost of sales |   | $ | (161 | ) |   | $ | 11 |  |

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|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        | December 30, 2012 |
|  (amounts in thousands)                | Amount of Gain (Loss)Recognizedin OtherComprehensiveIncome onDerivatives |  |   | Location ofGain (Loss)ReclassifiedFromAccumulatedOtherComprehensiveIncome intoIncome |   | Amount of Gain (Loss)ReclassifiedFromAccumulatedOtherComprehensiveIncome intoIncome |  |   | Amount ofForwardPointsRecognizedinOther Gain(Loss), net  |  |
| Derivatives designated as cash flow hedges  |   |  |   |   |   |   |  |   |   |  |
| Foreign currency revenue forecast contracts | $ | 507 |  |   | Cost of sales |   | $ | (1,994 | ) |   | $ | 102 |  |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | December 28, 2014 |   | December 29, 2013 |   | December 30, 2012 |
| (amounts in thousands)                            | Amount ofGain (Loss)Recognized inIncome onDerivatives |  |   | Location ofGain (Loss)Recognized inIncome onDerivatives |   | Amount ofGain (Loss)Recognized inIncome onDerivatives |  |   | Location ofGain(Loss)Recognized inIncome onDerivatives |   | Amount ofGain (Loss)Recognized inIncome onDerivatives |  |   | Location ofGain(Loss)Recognized inIncome onDerivatives |
| Derivatives not designated as hedging instruments |   |   |   |   |   |   |   |   |   |   |   |
| Foreign exchange forwards and options             | $ | 425 |  |   | Other gain(loss), net |   | $ | (404 | ) |   | Other gain(loss), net |   | $ | 261 |  |   | Other gain(loss), net |

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|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                       | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Profit Enhancement Plan                      |   |   |   |   |   |
| Severance and other employee-related charges | $ | 5,181 |  |   | $ | — |  |   | $ | — |  |
| Other exit costs                             | 101 |  |   | — |  |   | — |  |
| Global Restructuring Plan (including LEAN)   |   |   |   |   |   |
| Severance and other employee-related charges | 976 |  |   | 7,421 |  |   | 16,945 |  |
| Asset impairments                            | 172 |  |   | 1,210 |  |   | 6,506 |  |
| Other exit costs                             | 231 |  |   | 2,389 |  |   | 5,084 |  |
| SG&A Restructuring Plan                  |   |   |   |   |   |
| Severance and other employee-related charges | (7 | ) |   | (222 | ) |   | (86 | ) |
| Other exit costs                             | — |  |   | 68 |  |   | 64 |  |
| Manufacturing Restructuring Plan             |   |   |   |   |   |
| Other exit costs                             | — |  |   | — |  |   | (75 | ) |
| Total                                        | $ | 6,654 |  |   | $ | 10,866 |  |   | $ | 28,438 |  |

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                          |   |   |   |   |   |   |   |   |   |   |   |
| Fiscal 2014                                     | Accrual atBeginningof Year |  |   | Charged toEarnings |  |   | ChargeReversed toEarnings |  |   | CashPayments |  |   | ExchangeRateChanges |  |   | Accrual at December 28, 2014 |  |
| Profit Enhancement Plan                         |   |   |   |   |   |   |   |   |   |   |   |
| Severance and other employee-related charges(2) | $ | — |  |   | $ | 5,233 |  |   | $ | (52 | ) |   | $ | (770 | ) |   | $ | (329 | ) |   | $ | 4,082 |  |
| Other exit costs(1)                             | — |  |   | 101 |  |   | — |  |   | (101 | ) |   | — |  |   | — |  |
| Global Restructuring Plan (including LEAN)      |   |   |   |   |   |   |   |   |   |   |   |
| Severance and other employee-related charges(2) | 7,901 |  |   | 2,917 |  |   | (1,941 | ) |   | (6,434 | ) |   | (393 | ) |   | 2,050 |  |
| Other exit costs(1)                             | 66 |  |   | 231 |  |   | — |  |   | (285 | ) |   | 3 |  |   | 15 |  |
| SG&A Restructuring Plan                     |   |   |   |   |   |   |   |   |   |   |   |
| Severance and other employee-related charges(2) | 208 |  |   | 42 |  |   | (49 | ) |   | (67 | ) |   | (26 | ) |   | 108 |  |
| Total                                           | $ | 8,175 |  |   | $ | 8,524 |  |   | $ | (2,042 | ) |   | $ | (7,657 | ) |   | $ | (745 | ) |   | $ | 6,255 |  |

|           |                                                                                                                                                              |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | During 2014, there was a net charge to earnings of $0.3 million primarily due to outplacement and legal costs in connection with the restructuring plan. |

|           |                                                                                                                                                                                                                                                                     |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | During 2014, there was a severance charge reversed to earnings of $2.0 million primarily due to eliminations of individuals from the plans, replacements of individuals in the plans with other individuals, resignations, and other final accrual adjustments. |

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|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                          |   |   |   |   |   |   |   |   |   |   |   |
| Fiscal 2013                                     | Accrual atBeginningof Year |  |   | Charged toEarnings |  |   | ChargeReversed toEarnings |  |   | CashPayments |  |   | ExchangeRateChanges |  |   | Accrual at December 29, 2013 |  |
| Global Restructuring Plan (including LEAN)      |   |   |   |   |   |   |   |   |   |   |   |
| Severance and other employee-related charges(3) | $ | 7,752 |  |   | $ | 9,799 |  |   | $ | (2,378 | ) |   | $ | (7,469 | ) |   | $ | 197 |  |   | $ | 7,901 |  |
| Other exit costs(1)                             | 460 |  |   | 2,389 |  |   | — |  |   | (2,763 | ) |   | (20 | ) |   | 66 |  |
| SG&A Restructuring Plan                     |   |   |   |   |   |   |   |   |   |   |   |
| Severance and other employee-related charges(3) | 1,206 |  |   | 104 |  |   | (326 | ) |   | (780 | ) |   | 4 |  |   | 208 |  |
| Other exit costs(2)                             | 161 |  |   | 68 |  |   | — |  |   | (228 | ) |   | (1 | ) |   | — |  |
| Total                                           | $ | 9,579 |  |   | $ | 12,360 |  |   | $ | (2,704 | ) |   | $ | (11,240 | ) |   | $ | 180 |  |   | $ | 8,175 |  |

|           |                                                                                                                                                                                                                                                                           |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | During 2013, there was a net charge to earnings of $2.4 million primarily due to lease termination costs, inventory and equipment moving costs, restructuring agent costs, legal costs, and gains/losses on sale of assets in connection with the restructuring plan. |

|           |                                                                                                                                                         |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | During 2013, there was a net charge to earnings of $0.1 million primarily due to lease termination costs in connection with the restructuring plan. |

|           |                                                                                                                                                                                                                                                                                                                                                                                           |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | During 2013, there was a severance charge reversed to earnings of $2.7 million primarily due to eliminations of individuals from the plans, replacements of individuals in the plans with other individuals, resignations, and other final accrual adjustments. The eliminations and replacements were primarily the result of our change in management and strategic vision in 2013. |

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|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                  | CapitalLeases |  |   | OperatingLeases |  |   | Total |  |
| 2015                                    | $ | 100 |  |   | $ | 8,639 |  |   | $ | 8,739 |  |
| 2016                                    | 104 |  |   | 6,011 |  |   | 6,115 |  |
| 2017                                    | 50 |  |   | 3,173 |  |   | 3,223 |  |
| 2018                                    | 13 |  |   | 1,658 |  |   | 1,671 |  |
| 2019                                    | 2 |  |   | 844 |  |   | 846 |  |
| Thereafter                              | — |  |   | 740 |  |   | 740 |  |
| Total minimum lease payments            | $ | 269 |  |   | $ | 21,065 |  |   | $ | 21,334 |  |
| Less: amounts representing interest     | 20 |  |   |   |   |   |
| Present value of minimum lease payments | $ | 249 |  |   |   |   |   |

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----

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|     |                   |
|-----|-------------------|
| (A) | Business Segments |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                         | December 28, 2014 |  |   | December 29, 2013 |  |   | December 30, 2012 |  |   |
| Business segment net revenue:                                  |   |   |   |   |   |   |
| Merchandise Availability Solutions                             | $ | 438,847 |  | (1)  | $ | 456,101 |  | (2)  | $ | 446,798 |  | (3)  |
| Apparel Labeling Solutions                                     | 174,287 |  |   | 182,259 |  |   | 187,419 |  |   |
| Retail Merchandising Solutions                                 | 48,906 |  |   | 51,378 |  |   | 55,703 |  |   |
| Total                                                          | $ | 662,040 |  |   | $ | 689,738 |  |   | $ | 689,920 |  |   |
| Business segment gross profit:                                 |   |   |   |   |   |   |
| Merchandise Availability Solutions                             | $ | 207,113 |  |   | $ | 195,568 |  |   | $ | 197,308 |  |   |
| Apparel Labeling Solutions                                     | 60,179 |  |   | 54,672 |  |   | 47,050 |  |   |
| Retail Merchandising Solutions                                 | 17,792 |  |   | 18,851 |  |   | 25,478 |  |   |
| Total gross profit                                             | 285,084 |  |   | 269,091 |  |   | 269,836 |  |   |
| Operating expenses                                             | 246,351 |  | (4)  | 245,815 |  | (5)  | 390,337 |  | (6)  |
| Interest expense                                               | (3,457 | ) |   | (17,440 | ) |   | (10,783 | ) |   |
| Other gain (loss), net                                         | (1,102 | ) |   | (3,936 | ) |   | (1,731 | ) |   |
| Earnings (loss) from continuing operations before income taxes | $ | 34,174 |  |   | $ | 1,900 |  |   | $ | (133,015 | ) |   |
|                                                           |   |   |   |   |   |   |
| Business segment total assets:                                 |   |   |   |   |   |   |
| Merchandise Availability Solutions                             | $ | 500,795 |  |   | $ | 550,801 |  |   |   |   |
| Apparel Labeling Solutions                                     | 175,411 |  |   | 174,797 |  |   |   |   |
| Retail Merchandising Solutions                                 | 62,460 |  |   | 73,895 |  |   |   |   |
| Total                                                          | $ | 738,666 |  |   | $ | 799,493 |  |   |   |   |

|           |                                                                                                                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Includes net revenue from EAS systems, Alpha® and EAS consumables of $179.0 million, $125.3 million and $107.8 million, respectively, representing more than 10% of total revenue. |

|           |                                                                                                                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Includes net revenue from EAS systems, Alpha® and EAS consumables of $192.9 million, $128.1 million and $102.3 million, respectively, representing more than 10% of total revenue. |

|           |                                                                                                                                                                                                    |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | Includes net revenue from EAS systems, Alpha® and EAS consumables of $194.9 million, $121.4 million and $95.9 million, respectively, representing more than 10% of total revenue. |

|           |                                                                                                                                                                                    |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | Includes a $6.7 million restructuring charge, a $1.6 million litigation settlement charge, a $0.9 million asset impairment, and a $0.4 million acquisition charge. |

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|           |                                                                                                                                                                                                                                                                                                                                                            |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)  | Includes a $10.9 million restructuring charge, a $4.8 million asset impairment, a $1.2 million charge related to our CFO transition, $1.0 million in acquisition charge, a benefit of $6.6 million due to a litigation ruling reversal, and a $0.2 million gain on sale of our interest in the non-strategic Sri Lanka subsidiary. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)  | Includes a $102.7 million goodwill impairment charge, a $28.4 million restructuring charge, a $2.9 million charge related to our CEO transition, $0.3 million in acquisition costs, a $0.3 million litigation settlement charge, $3.9 million of income resulting from compensation for the financial impact of the fraudulent Canadian activities received from our insurance provider, partially offset by charges for forensic and legal fees associated with the improper and fraudulent Canadian activities, and a $1.7 million gain on sale of our non-strategic Suzhou, China subsidiary. |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands)                   | United States,Puerto Rico, &Dominican Republic |  |   | Europe |  |   | InternationalAmericas |  |   | AsiaPacific |  |   | Total |  |
| 2014                                     |   |   |   |   |   |   |   |   |   |
| Net revenues from unaffiliated customers | $ | 191,037 |  | (1)  | $ | 247,413 |  | (2)  | $ | 27,078 |  |   | $ | 196,512 |  |   | $ | 662,040 |  |
| Long-lived assets                        | $ | 7,491 |  |   | $ | 11,328 |  |   | $ | 1,343 |  |   | $ | 57,227 |  | (3)  | $ | 77,389 |  |
| 2013                                     |   |    |   |   |   |   |   |   |   |
| Net revenues from unaffiliated customers | $ | 203,171 |  | (4)  | $ | 255,610 |  | (5)  | $ | 32,523 |  |   | $ | 198,434 |  |   | $ | 689,738 |  |
| Long-lived assets                        | $ | 8,430 |  | (6)  | $ | 13,524 |  |   | $ | 1,432 |  |   | $ | 52,948 |  | (7)  | $ | 76,334 |  |
| 2012                                     |   |    |   |   |   |   |   |   |   |
| Net revenues from unaffiliated customers | $ | 184,905 |  | (8)  | $ | 276,028 |  |   | $ | 37,131 |  |   | $ | 191,856 |  |   | $ | 689,920 |  |

|           |                                                                |
|-----------|----------------------------------------------------------------|
| (1)  | Includes net revenue from the United States of $191.0 million. |

|           |                                                     |
|-----------|-----------------------------------------------------|
| (2)  | Includes net revenue from Germany of $77.1 million. |

|           |                                                                                                      |
|-----------|------------------------------------------------------------------------------------------------------|
| (3)  | Includes long-lived assets from China and Japan of $37.4 million and $8.3 million, respectively. |

|           |                                                                |
|-----------|----------------------------------------------------------------|
| (4)  | Includes net revenue from the United States of $203.2 million. |

|           |                                                     |
|-----------|-----------------------------------------------------|
| (5)  | Includes net revenue from Germany of $81.7 million. |

|           |                                                                    |
|-----------|--------------------------------------------------------------------|
| (6)  | Includes long-lived assets from the United States of $8.4 million. |

|           |                                                                                                      |
|-----------|------------------------------------------------------------------------------------------------------|
| (7)  | Includes long-lived assets from China and Japan of $33.8 million and $9.8 million, respectively. |

|           |                                                                |
|-----------|----------------------------------------------------------------|
| (8)  | Includes net revenue from the United States of $184.9 million. |

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|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |
| (amounts in thousands)                                       |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Net revenue                                                  |   | $ | — |  |   | $ | 10,751 |  |
| Gross profit                                                 |   | — |  |   | 1,335 |  |
| Selling, general, & administrative expense               |   | — |  |   | 2,550 |  |
| Asset impairment                                             |   | — |  |   | 1,442 |  |
| Goodwill impairment                                          |   | — |  |   | 370 |  |
| Operating loss                                               |   | — |  |   | (3,027 | ) |
| Gain (loss) on disposal                                      |   | 13 |  |   | (15 | ) |
| Gain (loss) from discontinued operations before income taxes |   | 13 |  |   | (3,042 | ) |
| Gain (loss) from discontinued operations, net of tax (1)     |   | $ | 13 |  |   | $ | (3,042 | ) |

|           |                                                                                                                                                                                                                            |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  |  As this business was located in the U.S. and a full valuation allowance was recorded in the U.S., there was no tax impact on the discontinued operations for the years ended December 29, 2013 and December 30, 2012. |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |
| (amounts in thousands)                                |   | December 29, 2013 |  |   | December 30, 2012 |  |
| Net revenue                                           |   | 16,084 |  |   | 76,519 |  |
| Gross profit                                          |   | 449 |  |   | 11,585 |  |
| Selling, general, & administrative expense        |   | 3,970 |  |   | 12,253 |  |
| Research and development                              |   | 105 |  |   | 410 |  |
| Asset impairment                                      |   | — |  |   | 329 |  |
| Goodwill impairment                                   |   | — |  |   | 3,263 |  |
| Operating loss                                        |   | (3,626 | ) |   | (4,670 | ) |
| Loss on disposal                                      |   | (13,611 | ) |   | — |  |
| Loss from discontinued operations before income taxes |   | (17,237 | ) |   | (4,670 | ) |
| Loss from discontinued operations, net of tax         |   | (17,169 | ) |   | (4,917 | ) |

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|                                                                         |
|-------------------------------------------------------------------------|
|                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                    | QUARTERS (unaudited) |   |   |
| (amounts in thousands, except per share data)                           | First |  |   | Second |  |   | Third |  |   | Fourth |  |   | Year |  |
| 2014                                                                    |   |   |   |   |   |   |   |   |   |
| Net revenues                                                            | $ | 147,406 |  |   | $ | 170,925 |  |   | $ | 160,595 |  |   | $ | 183,114 |  |   | $ | 662,040 |  |
| Gross profit                                                            | 62,286 |  |   | 72,507 |  |   | 70,965 |  |   | 79,326 |  |   | 285,084 |  |
| Net (loss) earnings from continuing operations                          | (129 | ) | (1)  | 9,854 |  | (2)  | (4,075 | ) | (3)  | 5,303 |  | (4)  | 10,953 |  |
| Net (loss) earnings attributable to Checkpoint Systems, Inc.            | (129 | ) | (1)  | 9,854 |  | (2)  | (4,075 | ) | (3)  | 5,303 |  | (4)  | 10,953 |  |
| Net earnings (loss) from continuing operations per share:               |   |   |   |   |   |   |   |   |   |
|      Basic                                     | $ | — |  |   | $ | 0.23 |  |   | $ | (0.10 | ) |   | $ | 0.13 |  |   | $ | 0.26 |  |
|      Diluted                                   | $ | — |  |   | $ | 0.23 |  |   | $ | (0.10 | ) |   | $ | 0.12 |  |   | $ | 0.26 |  |
| Net earnings (loss) attributable to Checkpoint Systems, Inc. per share: |   |   |   |   |   |   |   |   |   |
|      Basic                                     | $ | — |  |   | $ | 0.23 |  |   | $ | (0.10 | ) |   | $ | 0.13 |  |   | $ | 0.26 |  |
|      Diluted                                   | $ | — |  |   | $ | 0.23 |  |   | $ | (0.10 | ) |   | $ | 0.12 |  |   | $ | 0.26 |  |
|                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                    | First |  |   | Second |  |   | Third |  |   | Fourth |  |   | Year |  |
| 2013                                                                    |   |   |   |   |   |   |   |   |   |
| Net revenues                                                            | $ | 148,173 |  |   | $ | 172,290 |  |   | $ | 174,888 |  |   | $ | 194,387 |  |   | $ | 689,738 |  |
| Gross profit                                                            | 53,266 |  |   | 69,891 |  |   | 70,532 |  |   | 75,402 |  |   | 269,091 |  |
| Net (loss) earnings from continuing operations                          | (4,925 | ) | (5)  | 897 |  | (6)  | 7,232 |  | (7)  | (4,975 | ) | (8)  | (1,771 | ) |
| Net (loss) earnings attributable to Checkpoint Systems, Inc.            | (7,423 | ) | (5)  | (13,491 | ) | (6)  | 7,132 |  | (7)  | (5,146 | ) | (8)  | (18,928 | ) |
| Net (loss) earnings from continuing operations per share:               |   |   |   |   |   |   |   |   |   |
|      Basic                                     | $ | (0.12 | ) |   | $ | 0.02 |  |   | $ | 0.17 |  |   | $ | (0.12 | ) |   | $ | (0.05 | ) |
|      Diluted                                   | $ | (0.12 | ) |   | $ | 0.02 |  |   | $ | 0.17 |  |   | $ | (0.12 | ) |   | $ | (0.05 | ) |
| Net (loss) earnings attributable to Checkpoint Systems, Inc. per share: |   |   |   |   |   |   |   |   |   |
|      Basic                                     | $ | (0.18 | ) |   | $ | (0.33 | ) |   | $ | 0.17 |  |   | $ | (0.12 | ) |   | $ | (0.46 | ) |
|      Diluted                                   | $ | (0.18 | ) |   | $ | (0.32 | ) |   | $ | 0.17 |  |   | $ | (0.12 | ) |   | $ | (0.46 | ) |

|           |                                                                                                                                           |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Includes a $1.4 million restructuring charge (net of tax), and $0.4 million in financing liability interest expense (net of tax). |

|           |                                                                                                                                           |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Includes $0.4 million in financing liability interest expense (net of tax), and a $0.2 million restructuring charge (net of tax). |

|           |                                                                                                                                                                                                                                                |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | Includes a $11.6 million valuation allowance expense, a $1.0 million restructuring charge (net of tax), $0.4 million in financing liability interest expense (net of tax), and $0.3 million in acquisition costs (net of tax). |

|           |                                                                                                                                                                                                                                                                                                                                                                      |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | Includes a $3.3 million restructuring charge (net of tax), a $1.6 million litigation settlement charge (net of tax), a $0.6 million asset impairment charge (net of tax), $0.5 million in financing liability interest expense (net of tax), a $0.3 million valuation allowance benefit, and $0.1 million in acquisition costs (net of tax). |

|           |                                                                                                                                                                                                                                                                             |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)  | Includes $1.7 million restructuring charge (net of tax), $0.4 million in financing liability interest expense (net of tax), $0.2 million in acquisition costs (net of tax), and a benefit of $6.6 million due to a litigation ruling reversal (net of tax). |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)  | Includes a $1.2 million restructuring charge (net of tax), a $1.2 million charge related to our CFO transition (net of tax), a $0.6 million make-whole premium on debt charge (net of tax), $0.4 million in financing liability interest expense (net of tax), a $0.3 million valuation allowance expense, $0.3 million in acquisition costs (net of tax), and a $0.2 million gain on sale of our interest in the non-strategic Sri Lanka subsidiary (net of tax). |

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|           |                                                                                                                                                                                                                                                                   |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7)  | Includes a $0.8 million restructuring charge (net of tax), a $0.4 million make-whole premium on debt charges (net of tax), $0.4 million in financing liability interest expense (net of tax), and $0.3 million in acquisition costs (net of tax). |

|           |                                                                                                                                                                                                                                                                                                                                                                         |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (8)  | Includes a $8.0 million make-whole premium on debt charge (net of tax), $5.1 million restructuring charge (net of tax), a $4.6 million asset impairment charge (net of tax), a $0.4 million valuation allowance benefit, $0.4 million in financing liability interest expense (net of tax), and $0.3 million in acquisition costs (net of tax). |

----

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|         |                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------|
| • | Instituted additional training programs for accounting and finance personnel including global business unit controllers; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Re-designed controls to identify, research, evaluate and review the appropriate accounting related to non-routine complex transactions and technical accounting matters. These include matters in the areas of leasing, the sale of financial assets, and revenue recognition, as well as other areas. Additionally, we hired an Accounting Policy and Financial Reporting Manager during the third quarter to augment our current staff, whose responsibilities include among other things, evaluating the accounting for non-routine complex transactions. |

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|        |
|--------|
|        |  |  |
| 1.     | The following Consolidated Financial Statements of Checkpoint Systems, Inc. were included in Item 8: |   |
|   | Consolidated Balance Sheets as of December 28, 2014 and December 29, 2013 | 52 |
|   | Consolidated Statements of Operations for each of the years in the three-year periods ended December 28, 2014 | 53 |
|   | Consolidated Statements of Comprehensive Income (Loss) for each of the years in the three-year period ended December 28, 2014 | 54 |
|   | Consolidated Statements of Equity for each of the years in the three-year period ended December 28, 2014 | 55 |
|   | Consolidated Statements of Cash Flows for each of the years in the three-year period ended December 28, 2014 | 56 |
|   | Notes to Consolidated Financial Statements | 57 |
|   |   |   |
| 2.     | The Exhibits required to be filed by Item 601 of Regulation S-K are set forth on the accompanying Exhibit Index and are incorporated herein by reference. | 104 |
|   |   |   |
| 3.     | The following Consolidated Financial Statements schedules of Checkpoint Systems, Inc. are included: |   |
|   | Financial Statement Schedule, Schedule II — Valuation and Qualifying Accounts | 106 |

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|                                       |
|---------------------------------------|
|                                       |  |
| CHECKPOINT SYSTEMS, INC.              |   |
|                                  |   |
| /s/ George Babich, Jr.                |   |
| George Babich, Jr.                    |   |
| President and Chief Executive Officer |   |

----

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|                   |
|-------------------|
|                   |  |
| Exhibit 2.1       | Amendment to Asset Purchase Agreement dated as of April 28, 2013, by and among Checkpoint Systems, Inc., Checkpoint Systems Canada, ULC, Checkview Intermediate Holding II Corporation, and Checkview ULC is incorporated herein by reference to Exhibit 2.02 of the Company's Current Report on Form 8-K dated May 2, 2013. |
|              |   |
| Exhibit 2.2       | Asset Purchase Agreement dated as of March 19, 2013, by and among Checkpoint Systems, Inc., Checkpoint Systems Canada, ULC, Checkview Intermediate Holding II Corporation, and a Nova Scotia corporation to be formed prior to closing is incorporated herein by reference to Exhibit 2.01 of the Company's Current Report on Form 8-K dated May 2, 2013. |
|              |   |
| Exhibit 3.1       | Articles of Incorporation, as amended, are hereby incorporated by reference to Exhibit 3(i) of the Registrant’s 1990 Form 10-K, filed with the SEC on March 14, 1991. |
|              |   |
| Exhibit 3.2       | By-Laws, as Amended and Restated, are hereby incorporated by reference to Exhibit 3.1 of the Registrant’s Current Report on Form 8-K filed with the SEC on August 4, 2010. |
|              |   |
| Exhibit 3.3       | Articles of Amendment to the Articles of Incorporation are hereby incorporated by reference to Item 5.03, Exhibit 3.1 of the Registrant’s Current Report on Form 8-K filed with the SEC on December 28, 2007. |
|              |   |
|              |   |
| Exhibit 10.1      | Consulting and Deferred Compensation Agreement with Albert E. Wolf, are incorporated by reference to Item(a), Exhibit 10(c) of the Registrant’s 1994 Form 10-K. |
|              |   |
| Exhibit 10.2(1)   | Employment Agreement with Per Harold Levin is incorporated by reference to Item 6(a), Exhibit 10.4 of the Registrant’s Form 10-Q filed on May 13, 2004. |
|              |   |
| Exhibit 10.3(1)   | Amendment to Employment Agreement with Per Harold Levin is incorporated by reference to Item 6(a), Exhibit 10.5 of the Registrant’s Form 10-Q filed on May 13, 2004. |
|              |   |
| Exhibit 10.4(1)   | Employment Agreement by and between S. James Wrigley and Checkpoint Systems, Inc. dated March 11, 2011 is incorporated by reference to Registrant’s Form 10-Q, filed with the SEC on May 4, 2010. |
|              |   |
| Exhibit 10.5(1)   | Employment Agreement by and between Checkpoint Systems, Inc. and George Babich, Jr. February 4, 2013 is incorporated by reference to Registrant’s Form 8-K filed with the SEC on February 8, 2013. |
|              |   |
| Exhibit 10.6(1)   | Checkpoint Systems, Inc. Amended and Restated 2004 Omnibus Incentive Compensation Plan is hereby incorporated by reference from Appendix A to Checkpoint Systems, Inc.’s definitive proxy statement for the 2010 Annual Meeting of Shareholders filed with the SEC on April 26, 2010. |
|              |   |
| Exhibit 10.7(1)   | Amended and Restated Checkpoint Systems, Inc. 423 Employee Stock Purchase Plan, is hereby incorporated by reference from Appendix A to Checkpoint System, Inc.’s definitive proxy statement for the 2012 Annual Meeting of Shareholders filed with the SEC on April 23, 2012 |
|              |   |
| Exhibit 10.8(1)   | Offer Letter dated May 8, 2013 by and between Checkpoint Systems, Inc. and Jeffrey O. Richard, is incorporated by reference to Registrant’s Form 8-K filed with the SEC on June 10, 2013. |
|              |   |
| Exhibit 10.9      | Credit Agreement dated December 11, 2013, among the Registrant, as borrower, certain subsidiaries of the borrower as designated borrowers, and certain subsidiaries of the borrower as the guarantors and Bank of America, N.A. as Administrative Agent, Swingline Lender and Letter of Credit Issuer, and Bank of America Merrill Lynch, as Joint Lead Arranger and Joint Book Manager, Fifth Third Bank, as Joint Lead Arranger and Joint Book Manager, and HSBC Bank USA, National Association as Joint Lead Arranger and Joint Book Manager, is incorporated by reference to Registrant’s Form 8-K filed with the SEC on December 16, 2013. |
|              |   |
| Exhibit 10.10(1)  | Amended and Restated Employment Agreement by and between Checkpoint Systems, Inc. and George Babich, Jr. dated December 31, 2014, is incorporated by reference to Registant’s Form 8-K filed with the SEC on January 7, 2015. |
|              |   |
| Exhibit 21        | Subsidiaries of Registrant. |
|              |   |
| Exhibit 23        | Consent of Independent Registered Public Accounting Firm. |
|              |   |
| Exhibit 31.1 | Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002. |
|              |   |
| Exhibit 31.2 | Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002. |
|              |   |
| Exhibit 32.1 | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 United States Code Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002. |
|              |   |

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Table of Contents 

|                 |
|-----------------|
|                 |  |
| Exhibit 101.INS | XBRL Instance Document.(2) |
|            |   |
| Exhibit 101.SCH | XBRL Taxonomy Extension Schema Document.(2) |
|            |   |
| Exhibit 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document.(2) |
|            |   |
| Exhibit 101.LAB | XBRL Taxonomy Extension Label Linkbase Document.(2) |
|            |   |
| Exhibit 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document.(2) |
|            |   |
| Exhibit 101.DEF | XBRL Taxonomy Extension Definition Document.(2) |

|     |                                                          |
|-----|----------------------------------------------------------|
| (1) | Management contract or compensatory plan or arrangement. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Pursuant to Rule 406T of Regulation S-T, the XBRL related information in Exhibit 101 to this Annual Report on Form 10-K shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be deemed part of a registration statement, prospectus or other document filed under the Securities Act or the Exchange Act, except as may be expressly set forth by specific reference in such filings. |

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Table of Contents 

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands) |   |   |   |   |   |   |   |   |   |   |   |
| Year                   | Balance atBeginningof Year |  |   | AdditionsThroughAcquisition |  |   | Charged toCosts andExpenses |  |   | Deductions(Write-Offs andRecoveries, net) |  |   | Adjustment for Discontinued Operations |  |   | Balance atEnd of Year |  |
| 2014                   | $ | 12,404 |  |   | $ | — |  |   | $ | (144 | ) |   | $ | (3,734 | ) |   | $ | — |  |   | $ | 8,526 |  |
| 2013                   | $ | 13,242 |  |   | $ | — |  |   | $ | (435 | ) |   | $ | (403 | ) |   | $ | — |  |   | $ | 12,404 |  |
| 2012                   | $ | 12,627 |  |   | $ | — |  |   | $ | 3,024 |  |   | $ | (603 | ) |   | $ | (1,806 | ) |   | $ | 13,242 |  |

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (amounts in thousands) |   |   |   |   |   |   |   |   |   |   |   |
| Year                   | Balance atBeginningof Year |  |   | AdditionsThroughAcquisition |  |   | (Benefit) ExpenseRecorded onCurrent Year(Income) Losses |  |   | Change inValuationAllowance |  |   | Impact of CTA |  |   | Balance atEnd of Year |  |
| 2014                   | $ | 145,508 |  |   | $ | — |  |   | $ | (9,799 | ) |   | $ | 11,297 |  |   | 1,832 |  |   | $ | 148,838 |  |
| 2013                   | $ | 141,474 |  |   | $ | — |  |   | $ | 4,173 |  |   | $ | (125 | ) |   | (14 | ) |   | $ | 145,508 |  |
| 2012                   | $ | 102,148 |  |   | $ | — |  |   | $ | 38,926 |  |   | $ | 283 |  |   | 117 |  |   | $ | 141,474 |  |