We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Check Point Software Technologies Inc | NASDAQ:CHKP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.71 | 2.53% | 150.50 | 144.77 | 152.65 | 150.60 | 145.75 | 148.23 | 1,641,696 | 01:00:00 |
"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 $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
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.
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.
©2009 Check Point Software Technologies Ltd. All rights reserved.
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.
CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (In thousands, except per share amounts) Three Months Ended Nine Months Ended ------------------------ ------------------------ September 30, September 30, ------------------------ ------------------------ 2009 2008 2009 2008 ----------- ----------- ----------- ----------- (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Products and licenses $ 86,882 $ 81,925 $ 241,427 $ 244,277 Software updates, maintenance and services 146,759 117,795 410,867 346,646 ----------- ----------- ----------- ----------- Total revenues 233,641 199,720 652,294 590,923 ----------- ----------- ----------- ----------- Operating expenses: Cost of products and licenses 18,598 10,267 45,061 28,953 Cost of software updates, maintenance and services 10,033 6,941 26,637 20,792 Amortization of technology 7,471 5,800 20,501 18,754 ----------- ----------- ----------- ----------- Total cost of revenues 36,102 23,008 92,199 68,499 Research and development 22,426 23,193 65,681 69,762 Selling and marketing 56,379 50,796 160,390 161,044 General and administrative 13,190 12,294 40,487 38,865 Restructuring 67 - 9,101 - ----------- ----------- ----------- ----------- Total operating expenses 128,164 109,291 367,858 338,170 ----------- ----------- ----------- ----------- Operating income 105,477 90,429 284,436 252,753 Financial income, net 7,825 10,039 24,368 30,351 Other than temporary impairment on marketable securities - (2,288) - (2,288) ----------- ----------- ----------- ----------- Income before income taxes 113,302 98,180 308,804 280,816 Taxes on income 21,839 18,119 60,817 43,324 ----------- ----------- ----------- ----------- Net income $ 91,463 $ 80,061 $ 247,987 $ 237,492 =========== =========== =========== =========== Earnings per share (basic) $ 0.44 $ 0.37 $ 1.18 $ 1.10 =========== =========== =========== =========== Number of shares used in computing earnings per share (basic) 208,738 213,728 209,465 215,247 =========== =========== =========== =========== Earnings per share (diluted) $ 0.43 $ 0.37 $ 1.17 $ 1.09 =========== =========== =========== =========== Number of shares used in computing earnings per share (diluted) 211,688 216,567 211,790 217,942 =========== =========== =========== =========== CHECK POINT SOFTWARE TECHNOLOGIES LTD. RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL INFORMATION (In thousands, except per share amounts) Three Months Ended Nine Months Ended ------------------------ ------------------------ September 30, September 30, ------------------------ ------------------------ 2009 2008 2009 2008 ----------- ----------- ----------- ----------- (unaudited) (unaudited) (unaudited) (unaudited) GAAP operating income $ 105,477 $ 90,429 $ 284,436 $ 252,753 Stock-based compensation (1) 7,695 6,857 22,769 24,313 Amortization of intangible assets (2) 14,301 8,893 36,647 28,090 Restructuring (3) 67 - 9,101 - ----------- ----------- ----------- ----------- Non-GAAP operating income $ 127,540 $ 106,179 $ 352,953 $ 305,156 =========== =========== =========== =========== GAAP net income $ 91,463 $ 80,061 $ 247,987 $ 237,492 Stock-based compensation (1) 7,695 6,857 22,769 24,313 Amortization of intangible assets (2) 14,301 8,893 36,647 28,090 Restructuring (3) 67 - 9,101 - Other than temporary impairment * (4) - 2,288 - 2,288 Taxes on stock-based compensation, amortization of intangible assets and other than temporary impairment (5) (4,040) (3,849) (10,662) (11,867) ----------- ----------- ----------- ----------- Non-GAAP net income $ 109,486 $ 94,250 $ 305,842 $ 280,316 =========== =========== =========== =========== GAAP Earnings per share (diluted) $ 0.43 $ 0.37 $ 1.17 $ 1.09 Stock-based compensation (1) 0.04 0.04 0.11 0.11 Amortization of intangible assets (2) 0.07 0.04 0.17 0.13 Restructuring (3) - - 0.04 - Other than temporary impairment * (4) - 0.01 - 0.01 Taxes on stock-based compensation, amortization of intangible assets and other than temporary impairment (5) (0.02) (0.02) (0.05) (0.05) ----------- ----------- ----------- ----------- Non-GAAP Earnings per share (diluted) $ 0.52 $ 0.44 $ 1.44 $ 1.29 =========== =========== =========== =========== Number of shares used in computing Non-GAAP earnings per share (diluted) 211,688 216,567 211,790 217,942 =========== =========== =========== =========== (1) Stock-based compensation: Cost of products and licenses $ 14 $ 15 $ 35 $ 42 Cost of software updates, maintenance and services 236 133 536 510 Research and development 1,998 1,364 4,771 3,665 Selling and marketing 1,769 1,696 4,485 5,862 General and administrative 3,678 3,649 12,942 14,234 ----------- ----------- ----------- ----------- 7,695 6,857 22,769 24,313 ----------- ----------- ----------- ----------- (2) Amortization of intangible assets: Cost of products and licenses 7,471 5,800 20,501 18,754 Selling and marketing 6,830 3,093 16,146 9,336 ----------- ----------- ----------- ----------- 14,301 8,893 36,647 28,090 ----------- ----------- ----------- ----------- (3) Restructuring 67 - 9,101 - ----------- ----------- ----------- ----------- (4) Other than temporary impairment* Financial income, net - 2,288 - 2,288 ----------- ----------- ----------- ----------- (5) Taxes on stock-based compensation, amortization of intangible assets and other than temporary impairment (4,040) (3,849) (10,662) (11,867) ----------- ----------- ----------- ----------- Total, net $ 18,023 $ 14,189 $ 57,855 $ 42,824 =========== =========== =========== =========== * Relates to impairment of Lehman Brothers bonds. CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONDENSED CONSOLIDATED BALANCE SHEET DATA (In thousands) ASSETS September 30, December 31, 2009 2008 ------------- ------------- (unaudited) (unaudited) Current assets: Cash and cash equivalents $ 608,221 $ 543,190 Short-term deposit - 26,302 Marketable securities 348,898 344,895 Trade receivables, net 191,156 251,771 Other current assets 34,477 28,372 ------------- ------------- Total current assets 1,182,752 1,194,530 ------------- ------------- Long-term assets: Marketable securities 779,045 529,445 Property, plant and equipment, net 39,956 40,248 Severance pay fund 6,315 5,817 Deferred income taxes, net 16,926 19,003 Intangible assets, net 123,448 123,151 Goodwill 708,458 664,602 Other assets 21,167 16,820 ------------- ------------- Total long-term assets 1,695,315 1,399,086 ------------- ------------- Total assets $ 2,878,067 $ 2,593,616 ============= ============= LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Deferred revenues $ 322,764 $ 289,998 Trade payables and other accrued liabilities 145,191 112,556 ------------- ------------- Total current liabilities 467,955 402,554 ------------- ------------- Long-term deferred revenues 37,361 40,799 Income tax accrual 121,138 101,230 Deferred tax liability, net 15,127 22,225 Accrued severance pay 11,125 10,943 ------------- ------------- Total liabilities 652,706 577,751 ------------- ------------- Shareholders' equity: Share capital 774 774 Additional paid-in capital 512,200 503,408 Treasury shares at cost (1,173,239) (1,105,250) Accumulated other comprehensive income (loss) 16,895 (4,673) Retained earnings 2,868,731 2,621,606 ------------- ------------- Total shareholders' equity 2,225,361 2,015,865 ------------- ------------- Total liabilities and shareholders' equity $ 2,878,067 $ 2,593,616 ============= ============= Total cash and cash equivalents, deposits and marketable securities $ 1,736,164 $ 1,443,832 ============= ============= CHECK POINT SOFTWARE TECHNOLOGIES LTD. SELECTED CONSOLIDATED CASH FLOW DATA (In thousands) Three Months Ended Nine Months Ended ------------------------ ------------------------ September 30, September 30, ------------------------ ------------------------ 2009 2008 2009 2008 ----------- ----------- ----------- ----------- (unaudited) (unaudited) (unaudited) (unaudited) Cash flow from operating activities: Net income $ 91,463 $ 80,061 $ 247,987 $ 237,492 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property, plant and equipment 2,190 2,257 7,226 6,548 Other than temporary impairment - 2,288 - 2,288 Decrease (increase) in trade and other receivables, net (50) 1,770 85,050 38,638 Increase in deferred revenues, trade payables and other accrued liabilities 15,494 20,836 24,769 25,380 Amortization of intangible assets 14,301 8,893 36,647 28,090 Realized loss on marketable securities - - 1,896 - Stock-based compensation 7,695 6,857 22,768 24,313 Excess tax benefit from stock-based compensation (2,474) (3,531) (6,988) (9,560) Deferred income taxes, net (2,487) (4,338) (8,729) (12,661) ----------- ----------- ----------- ----------- Net cash provided by operating activities 126,132 115,093 410,626 340,528 ----------- ----------- ----------- ----------- Cash flow from investing activities: Cash paid in conjunction with the acquisition of Protect Data, net - - - (9,042) Cash paid in conjunction with the acquisition of Nokia - - (57,540) - Investment in property, plant and equipment (1,043) (2,412) (3,644) (6,938) ----------- ----------- ----------- ----------- Net cash used in investing activities (1,043) (2,412) (61,184) (15,980) ----------- ----------- ----------- ----------- Cash flow from financing activities: Proceeds from issuance of shares upon exercise of options 20,166 11,504 62,469 27,276 Purchase of treasury shares (50,000) (49,825) (152,286) (172,825) Excess tax benefit from stock-based compensation 2,474 3,531 6,988 9,560 ----------- ----------- ----------- ----------- Net cash used in financing activities (27,360) (34,790) (82,829) (135,989) ----------- ----------- ----------- ----------- Unrealized gain (loss) on marketable securities, net 8,255 (19,420) 25,719 (28,824) ----------- ----------- ----------- ----------- Increase in cash and cash equivalents, deposits and marketable securities 105,984 58,471 292,332 159,735 Cash and cash equivalents, deposits and marketable securities at the beginning of the period 1,630,180 1,342,773 1,443,832 1,241,509 ----------- ----------- ----------- ----------- Cash and cash equivalents, deposits and marketable securities at the end of the period $ 1,736,164 $ 1,401,244 $ 1,736,164 $ 1,401,244 =========== =========== =========== ===========
INVESTOR CONTACT: Kip E. Meintzer Check Point Software Technologies +1 650.628.2040 ir@us.checkpoint.com MEDIA CONTACT: Greg Kunkel Check Point Software Technologies +1 650.628.2070 press@us.checkpoint.com
1 Year Check Point Software Tec... Chart |
1 Month Check Point Software Tec... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions