Checkpoint Systems is a manufacturer and marketer of integrated systems solutions for retail security, labeling, and merchandising.

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Checkpoint Systems is a manufacturer and marketer of integrated systems solutions for retail security, labeling, and merchandising. The firm is a leading provider of source tagging, handheld labeling systems, retail merchandising systems, and bar-code labeling systems. In a press release, Checkpoint stated: "GAAP reported net loss for the fourth quarter of Year 4 was $29.3 million, or $0.78 per diluted share, compared to net earnings of $4.5 million, or $0.13 per diluted share, for the fourth quarter Year 3. Excluding impairment and restructuring charges, net of tax, the Company's net income for the fourth quarter Year 4 was $0.30 per diluted share, compared to $0.27 per diluted share in the fourth quarter Year 3." Calculate the amount of the impairment and restructuring charges reported by Checkpoint in Year 4 and Year 3, and discuss why the firm reported earnings both including and excluding impairment and restructuring charges.
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