MEDIA CONTACT:
McGallen & Bolden PR
tel: +65-63246588
email

FOR IMMEDIATE RELEASE (For Asia Only)

Check Point Software Reports Record Financial Results for the Third Quarter 2009

All-Time Record Quarterly Results
* Revenue: US$233.6 million, representing 17 percent year over year growth
* Non-GAAP EPS: US$0.52, representing 19 percent year over year growth
* Non-GAAP Operating Income: US$127.5 million, representing 20 percent year over year growth, and 55 percent of revenues
* Deferred Revenues: US$360.1 million, representing 32 percent year over year growth

Singapore, October 23, 2009 - Check Point(R) Software Technologies Ltd. (NASDAQ: CHKP), the worldwide leader in securing the Internet, today announced record financial results for the third quarter ended September 30, 2009.

"I am proud of our ability to execute and deliver all-time record results across key metrics for the quarter. Our revenues came in at the high-end of our projections, with 17 percent growth, while non-GAAP earnings per share were US$0.52, representing 19% growth, and exceeded our projections. This is particularly encouraging given the state of the economy and the weakness of the US dollar" said Gil Shwed, Chairman and Chief Executive Officer at Check Point, "Operationally, we performed well across all regions, with Asia Pacific having a particularly good quarter. We also continued to realize further synergies from our recent acquisition, which helped us to achieve these results and deliver non-GAAP operating margin of 55%."

Financial Highlights for the Third Quarter of 2009

* Total Revenues: US$233.6 million, an increase of 17 percent compared to US$199.7 million in the third quarter of 2008.

* GAAP Operating Income: US$105.5 million, an increase of 17 percent compared to US$90.4 million in the third quarter of 2008. The GAAP operating income in the third quarter of 2009 included amortization of intangible assets in the amount of US$5.4 million related to the Nokia security business acquisition.

* Non-GAAP Operating Income: US$127.5 million, an increase of 20 percent compared to US$106.2 million in the third quarter of 2008. Non-GAAP operating margin was 55 percent, compared to 53 percent in the third quarter of 2008, and 52 percent during the second quarter of 2009. **For information regarding the non-GAAP financial measures discussed in this release, please see "Use of Non-GAAP Financial Information" and "Reconciliation of Non-GAAP to GAAP Financial Information."

* GAAP Net Income and Earnings per Diluted Share: GAAP net income was US$91.5 million, an increase of 14 percent compared to US$80.1 million in the third quarter of 2008. GAAP earnings per diluted share were US$0.43, an increase of 17 percent compared to US$0.37 in the third quarter of 2008. GAAP net income in the third quarter of 2009 included amortization of intangible assets in the amount of US$5.4 million (which represented US$0.03 in GAAP earnings per diluted share) related to the Nokia security business acquisition. Net of taxes, these charges totaled US$5.1 million (US$0.02 per diluted share).

* Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was US$109.5 million, an increase of 16 percent compared to US$94.2 million in the third quarter of 2008, and non-GAAP EPS was US$0.52, an increase of 19 percent compared to US$0.44 in the third quarter of 2008. **For information regarding the non-GAAP financial measures discussed in this release, please see "Use of Non-GAAP Financial Information" and "Reconciliation of Non-GAAP to GAAP Financial Information."

* Deferred Revenues: As of September 30, 2009, we had deferred revenue of US$360.1 million, an increase of 32 percent compared to US$272.9 as of September 30, 2008.

* Cash Flow: Cash flow from operations was US$126.1 million, an increase of 10 percent compared to US$115.1 million in the third quarter of 2008. We had US$1,736.2 million in cash and investments as of September 30, 2009.

* Share Repurchase Program: During the third quarter of 2009, we repurchased 1.8 million shares at a total cost of US$50 million.

Mr. Shwed concluded, "We continued to realize good traction from our latest product introductions, including the new SMART-1 management appliances, the high-end Power-1 11000 series and low-end UTM-1 130 appliances. Our Software Blade Architecture experienced excellent adoption by our customers as they continue to recognize the benefits of a secure, flexible and easily managed security platform."

Conference Call and Webcast Information

Check Point will host a conference call with the investment community on October 22, 2009 at 8:30 AM ET/5:30 AM PT. To listen to the live webcast, please visit Check Point's website at http://www.checkpoint.com/ir. A replay of the conference call will be available through October 29, 2009 at the company's website http://www.checkpoint.com/ir or by telephone at +1 201.612.7415, passcode # 335046, account # 215. 


Full release with financials for download:
PDF version


About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com), a worldwide leader in securing the Internet, is the only vendor to delivers Total Security for networks, data and endpoints, unified under a single management framework. Check Point provides customers uncompromised protection against all types of threats, reduces security complexity and lowers total cost of ownership. Check Point first pioneered the industry with FireWall-1 and its patented stateful inspection technology. Today, Check Point continues to innovate with the development of the Software Blade architecture. The dynamic Software Blade architecture delivers secure, flexible and simple solutions that can be fully customized to meet the exact security needs of any organization or environment. Check Point customers include tens of thousands of businesses and organizations of all sizes, including [all Fortune 100 companies. Check Point's award-winning ZoneAlarm solutions protect millions of consumers from hackers, spyware and identity theft.

Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of net income, operating income and earnings per share, which are adjustments from results based on GAAP to exclude non-cash equity-based compensation charges, impairment of marketable securities, amortization of acquired intangible assets, restructuring-related charges and the related tax affects. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors. Check Point's management also believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Check Point's on-going core operations and prospects for the future. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP.

Copyright(c)2003 - 2009 Check Point Software Technologies Ltd. All rights reserved.




Search engines:


Check Point site

Keyword terms for page: Check Point Software Technologies Ltd. - Products include Check Point, AlertAdvisor, Application Intelligence, Check Point Express, Check Point Express CI, the Check Point logo, ClusterXL, Confidence Indexing, ConnectControl, Connectra, Connectra Accelerator Card, Cooperative Enforcement, Cooperative Security Alliance, CoSa, DefenseNet, Dynamic Shielding Architecture, Eventia, Eventia Analyzer, Eventia Reporter, Eventia Suite, FireWall-1, FireWall-1 GX, FireWall-1 SecureServer, FloodGate-1, Hacker ID, Hybrid Detection Engine, IMsecure, INSPECT, INSPECT XL, Integrity, Integrity Clientless Security, Integrity SecureClient, InterSpect, IPS-1, IQ Engine, MailSafe, NG, NGX, Open Security Extension, OPSEC, OSFirewall, Policy Lifecycle Management, Provider-1, Safe@Home, Safe@Office, SecureClient, SecureClient Mobile, SecureKnowledge, SecurePlatform, SecurePlatform Pro, SecuRemote, SecureServer, SecureUpdate, SecureXL, SecureXL Turbocard, Sentivist, SiteManager-1, SmartCenter, SmartCenter Express, SmartCenter Power, SmartCenter Pro, SmartCenter UTM, SmartConsole, SmartDashboard, SmartDefense, SmartDefense Advisor, Smarter Security, SmartLSM, SmartMap, SmartPortal, SmartUpdate, SmartView, SmartView Monitor, SmartView Reporter, SmartView Status, SmartViewTracker, SofaWare, SSL Network Extender, Stateful Clustering, TrueVector, Turbocard, UAM, UserAuthority, User-to-Address Mapping, VPN-1, VPN-1 Accelerator Card, VPN-1 Edge, VPN-1 Express, VPN-1 Express CI, VPN-1 Power, VPN-1 Power VSX, VPN-1 Pro, VPN-1 SecureClient, VPN-1 SecuRemote, VPN-1 SecureServer, VPN-1 UTM, VPN-1 UTM Edge, VPN-1 VSX, Web Intelligence, ZoneAlarm, ZoneAlarm Anti-Spyware, ZoneAlarm Antivirus, ZoneAlarm Internet Security Suite, ZoneAlarm Pro, ZoneAlarm Secure Wireless Router, Zone Labs, and the Zone Labs logo are trademarks or registered trademarks of Check Point Software Technologies Ltd. or its affiliates. The products are used for perimeter security, internal security, web security, high-end security, firewalls, virtual private networks or VPN, network management, endpoint security, and security alert services.

| go to top |

Disclaimer: McGallen & Bolden cannot be held liable for any information issued on behalf of its client and any delay its receipt. Any appearance of information on our site does not constitute our endorsement of any of the clients, products or services. We will not be liable or held responsible for any subsequent publishing or distribution by third parties any of these information of clients.
Microwire.info, the visual identity and other related content, are trademarks of McGallen & Bolden Group.
Copyright© 2005-2009 McGallen & Bolden Group. All rights reserved. Legal Notice.