Checkpoint Systems, Inc.
In correspondance with the SEC and in their 8-K forms for the SEC, Checkpoint Systems disclosed few details regarding their business in Iran.
“On July 23, 2009, the Company responded to an Administrative Subpoena issued by the Office of Foreign Assets Control (“OFAC”) of the Department of the Treasury regarding sales by the Company’s non-U.S. subsidiaries to Iran. In connection with preparing its response to the OFAC subpoena, the Company undertook an internal review to ascertain facts relating to any sales to Iran within the preceding five years. As a result of this review, the Company determined that European subsidiaries of the Company had sold standard products to Iran.” (UPLOAD for CHECKPOINT SYSTEMS INC, 2/4/2010)
“For the first quarter of 2008, SG&A expense includes a charge of $1.4 million related to a deferred compensation expense adjustment from a prior period, and $1.6 million higher bad debt provision compared to the first quarter of 2007 primarily due to a general increase in the age of accounts receivable, primarily attributable to customers outside the U.S. and a provision established for a distributor in Iran." (EX-99.1 of 8-K for CHECKPOINT SYSTEMS INC, 5/7/2008)