October 30, 2008

Check Point Reports Strong Q3

Internet security company Check Point has reported a 4% increase in net income to $80m for the third quarter 2008, on revenue up 9% at $199.7m.

Operating income increased 15% to $90.43m, while diluted EPS increased 9% to $0.37. The company had cash and cash equivalents of $523m at the end of the quarter.

The company said product and license revenue grew 7% to $82m, while revenue from software updates, maintenance, and services grew 10% to $118m.

For the nine-month period, the company reported a 23% increase in net income to $237m on revenue up 13% to $591m. Operating income increased 32% to $253m, while EPS increased 28% to $1.09.

During the quarter, the company extended its total security strategy with the general availability of Check Point Endpoint Security, a single agent for PCs combining firewall, network access control, program control, remote access, antivirus, anti-spyware, full disk encryption, and media encryption.

Gil Shwed, chairman and chief executive at Check Point, said: "During the quarter we added many new customer accounts across all industries despite the challenging economic environment. We experienced success with our Power-1 and UTM-1 appliance product lines. Moving forward, we will continue to execute on our total security strategy."