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 |
Check Point® Software Technologies Ltd. (NASDAQ: CHKP), the worldwide leader in securing the Internet, today announced its financial results for the second quarter ending June 30, 2011.
"The first half of 2011 produced great results. We continued to outperform our projections in the second quarter. These good results are driven by increased sales of enterprise gateways with more software blades attached. In particular, our IPS and Application Control software blades have shown significant growth in the second quarter," said Gil Shwed, founder, chairman, and chief executive officer of Check Point Software Technologies.
Financial Highlights:
For information regarding the Non-GAAP financial measures discussed in this release, please see "Use of Non-GAAP Financial Information" and "Reconciliation of GAAP to Non-GAAP Financial Information."
Business Highlights: Check Point has continued to deliver advanced and award-winning solutions that have earned the trust of customers from around the world. The success of this quarter continues to validate the company's product innovation and continued growth as a pure-play security company. In addition, significant recent developments in Check Point's business include the introduction of new products and the promotion of an officer:
Recent Industry Accolades From Across the Globe:
In addition, Check Point's founder, chairman and CEO, Gil Shwed, along with Tal Payne, CFO, and the company's board of directors, rang the NASDAQ opening bell on June 28, 2011, commemorating the company's fifteenth anniversary since its initial public offering in 1996.
Shwed concluded, "Our security focus is continuing to pay off. I'm pleased to see that customers are adopting more software blades to enhance their threat protection and raise the level of security in their organization. We will continue to deliver on our 3D security vision combining policy, people and enforcement to provide the best protection for our customers."
Third Quarter Investor Conference Participation Schedule:
Members of Check Point's management team will present at these conferences and discuss the latest company strategies and initiatives. Check Point's conference presentations are expected to be available via webcast on the company's web site. To view these presentations and access the most updated information please visit the company's web site at www.checkpoint.com/ir . The schedule is subject to change.
Conference Call and Webcast Information Check Point will host a conference call with the investment community on July 18, 2011 at 8:30 AM ET/5:30 AM PT. To listen to the live webcast, please visit Check Point's website at: www.checkpoint.com/ir. A replay of the conference call will be available through July 25, 2011 at the company's website www.checkpoint.com/ir or by telephone at +1.201.612.7415, replay ID number 375092, account # 215.
About Check Point Software Technologies Ltd. Check Point Software Technologies Ltd. (www.checkpoint.com), the worldwide leader in securing the Internet, is the only vendor to deliver Total Security for networks, data and endpoints, unified under a single management framework. Check Point provides customers with 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.
©2011 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, operating margin and earnings per share, which are adjustments from results based on GAAP to exclude non-cash equity-based compensation charges, amortization of acquired intangible assets, restructuring and other acquisitions related costs, gain on sale of marketable securities previously impaired, and the related tax affects. Check Point's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Check Point's ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures in order to assist the investment community to see the Company "through the eyes of management," and thereby enhance understanding of its operating performance. 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. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. 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 SOFTWARE TECHNOLOGIES LTD. CONDENSED CONSOLIDATED STATEMENT OF INCOME (In thousands, except per share amounts) Three Months Ended Six Months Ended ------------------------- ------------------------- June 30, June 30, ------------------------- ------------------------- 2011 2010 2011 2010 ------------ ------------ ------------ ------------ (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Products and licenses $ 119,288 $ 103,904 $ 224,546 $ 194,942 Software updates, maintenance and subscription 181,356 157,187 357,372 311,226 ------------ ------------ ------------ ------------ Total revenues 300,644 261,091 581,918 506,168 ------------ ------------ ------------ ------------ Operating expenses: Cost of products and licenses 18,983 16,287 36,635 32,792 Cost of Software updates, maintenance and subscription 15,623 13,547 29,920 25,792 Amortization of technology 7,850 8,150 15,699 16,216 ------------ ------------ ------------ ------------ Total cost of revenues 42,456 37,984 82,254 74,800 Research and development 27,524 25,807 55,167 50,129 Selling and marketing 64,785 58,619 123,294 113,395 General and administrative 15,833 15,980 29,823 29,282 Restructuring and other acquisitions related costs - 588 - 588 ------------ ------------ ------------ ------------ Total operating expenses 150,598 138,978 290,538 268,194 ------------ ------------ ------------ ------------ Operating income 150,046 122,113 291,380 237,974 Financial income, net 10,832 7,133 21,360 14,326 ------------ ------------ ------------ ------------ Income before taxes on income 160,878 129,246 312,740 252,300 Taxes on income 32,887 26,385 62,659 51,398 ------------ ------------ ------------ ------------ Net income $ 127,991 $ 102,861 $ 250,081 $ 200,902 ============ ============ ============ ============ Earnings per share (basic) $ 0.62 $ 0.49 $ 1.20 $ 0.96 ============ ============ ============ ============ Number of shares used in computing earnings per share (basic) 207,129 207,914 207,650 208,449 ============ ============ ============ ============ Earnings per share (diluted) $ 0.60 $ 0.48 $ 1.16 $ 0.95 ============ ============ ============ ============ Number of shares used in computing earnings per share (diluted) 214,565 212,166 215,240 210,639 ============ ============ ============ ============ CHECK POINT SOFTWARE TECHNOLOGIES LTD. RECONCILIATION OF GAAP TO NON GAAP FINANCIAL INFORMATION (In thousands, except per share amounts) ------------------------ ------------------------ Three Months Ended Six Months Ended ------------------------ ------------------------ June 30, June 30, ------------------------ ------------------------ 2011 2010 2011 2010 ----------- ----------- ----------- ----------- (unaudited) (unaudited) (unaudited) (unaudited) GAAP operating income $ 150,046 $ 122,113 $ 291,380 $ 237,974 Stock-based compensation (1) 9,900 9,080 18,145 18,013 Amortization of intangible assets (2) 11,032 12,893 22,063 25,656 Restructuring and other acquisitions related costs (3) - 588 - 588 ----------- ----------- ----------- ----------- Non-GAAP operating income $ 170,978 $ 144,674 $ 331,588 $ 282,231 =========== =========== =========== =========== GAAP net income $ 127,991 $ 102,861 $ 250,081 $ 200,902 Stock-based compensation (1) 9,900 9,080 18,145 18,013 Amortization of intangible assets (2) 11,032 12,893 22,063 25,656 Restructuring and other acquisitions related costs (3) - 588 - 588 Gain on Sale of marketable securities previously impaired(4) (649) - (2,017) - Taxes on the above items (5) (2,759) (3,025) (5,688) (5,973) ----------- ----------- ----------- ----------- Non-GAAP net income $ 145,515 $ 122,397 $ 282,584 $ 239,186 =========== =========== =========== =========== GAAP Earnings per share (diluted) $ 0.60 $ 0.48 $ 1.16 $ 0.95 Stock-based compensation (1) 0.04 0.05 0.08 0.10 Amortization of intangible assets (2) 0.05 0.06 0.10 0.12 Restructuring and other acquisitions related costs (3) - 0.00 - 0.00 Gain on Sale of marketable securities previously impaired(4) (0.00) - (0.01) - Taxes on the above items (4) (0.01) (0.01) (0.02) (0.03) ----------- ----------- ----------- ----------- Non-GAAP Earnings per share (diluted) $ 0.68 $ 0.58 $ 1.31 $ 1.14 =========== =========== =========== =========== Number of shares used in computing Non-GAAP earnings per share (diluted) 214,565 212,166 215,240 210,639 =========== =========== =========== =========== (1) Stock-based compensation: Cost of products and licenses $ 19 $ 17 $ 30 $ 28 Cost of software updates, maintenance and subscription 255 231 445 458 Research and development 2,022 1,693 3,455 3,341 Selling and marketing 1,690 1,550 3,581 3,796 General and administrative 5,914 5,589 10,634 10,390 ----------- ----------- ----------- ----------- $ 9,900 9,080 $ 18,145 18,013 ----------- ----------- ----------- ----------- (2) Amortization of intangible assets: Amortization of technology-cost of revenues 7,850 8,150 15,699 16,216 Research and development - 685 - 1,370 Selling and marketing 3,182 4,058 6,364 8,070 ----------- ----------- ----------- ----------- 11,032 12,893 22,063 25,656 ----------- ----------- ----------- ----------- (3) Restructuring and other acquisitions related costs - 588 - 588 ----------- ----------- ----------- ----------- (4) Gain on Sale of marketable securities previously impaired (649) - (2,017) - ----------- ----------- ----------- ----------- (5) Taxes on the above items (2,759) (3,025) (5,688) (5,973) ----------- ----------- ----------- ----------- Total, net $ 17,524 $ 19,536 $ 32,503 $ 38,284 =========== =========== =========== =========== CHECK POINT SOFTWARE TECHNOLOGIES LTD. CONDENSED CONSOLIDATED BALANCE SHEET DATA (In thousands) ASSETS June 30, December 31, 2011 2010 ------------ ------------ (unaudited) (audited) Current assets: Cash and cash equivalents $ 359,018 $ 551,777 Marketable securities and short-term deposits 791,517 537,718 Trade receivables, net 197,168 283,192 Prepaid expenses and other current assets 52,042 44,247 ------------ ------------ Total current assets 1,399,745 1,416,934 ------------ ------------ Long-term assets: Marketable securities 1,539,273 1,325,451 Property and equipment, net 36,996 37,065 Severance pay fund 6,965 6,532 Deferred tax asset, net 20,580 18,122 Other intangible assets, net 44,701 66,765 Goodwill 717,052 717,052 Other assets 15,827 17,381 ------------ ------------ Total long-term assets 2,381,394 2,188,368 ------------ ------------ Total assets $ 3,781,139 $ 3,605,302 ============ ============ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Deferred revenues $ 413,422 $ 424,158 Trade payables and other accrued liabilities 223,480 239,104 ------------ ------------ Total current liabilities 636,902 663,262 ------------ ------------ Long-term deferred revenues 43,545 40,394 Income tax accrual 208,762 169,370 Deferred tax liability, net 1,215 1,721 Accrued severance pay 12,179 11,224 ------------ ------------ 265,701 222,709 ------------ ------------ Total liabilities 902,603 885,971 ------------ ------------ Shareholders' equity: Share capital 774 774 Additional paid-in capital 612,060 580,276 Treasury shares at cost (1,431,820) (1,306,382) Accumulated other comprehensive income 18,362 15,584 Retained earnings 3,679,160 3,429,079 ------------ ------------ Total shareholders' equity 2,878,536 2,719,331 ------------ ------------ Total liabilities and shareholders' equity $ 3,781,139 $ 3,605,302 ============ ============ Total cash and cash equivalents, marketable securities and short-term deposits $ 2,689,808 $ 2,414,946 ============ ============ CHECK POINT SOFTWARE TECHNOLOGIES LTD. SELECTED CONSOLIDATED CASH FLOW DATA (In thousands) Three Months Ended Six Months Ended ------------------------ ------------------------ June 30, June 30, ------------------------ ------------------------ 2011 2010 2011 2010 ----------- ----------- ----------- ----------- (unaudited) (unaudited) (unaudited) (unaudited) Cash flow from operating activities: Net income $ 127,991 $ 102,861 $ 250,081 $ 200,902 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property, plant and equipment 1,824 1,734 3,553 3,575 Decrease (increase) in trade and other receivables, net (3,319) 23,610 79,906 123,653 Increase in deferred revenues, trade payables and other accrued liabilities 35,622 1,740 21,764 2,149 Realized gain on marketable securities (2,481) - (2,481) - Stock-based compensation 9,900 9,080 18,145 18,013 Amortization of intangible assets 11,032 12,893 22,063 25,656 Excess tax benefit from stock-based compensation (2,035) (1,127) (2,088) (2,960) Deferred income taxes, net (3,025) (1,857) (3,829) (4,249) ----------- ----------- ----------- ----------- Net cash provided by operating activities 175,509 148,934 387,114 366,739 ----------- ----------- ----------- ----------- Cash flow from investing activities: Cash paid in conjunction with acquisitions, net of acquired cash (985) (13,624) (6,501) (13,624) Investment in property and equipment (1,623) (1,248) (3,484) (2,144) ----------- ----------- ----------- ----------- Net cash used in investing activities (2,608) (14,872) (9,985) (15,768) ----------- ----------- ----------- ----------- Cash flow from financing activities: Proceeds from issuance of shares upon exercise of options 8,036 1,938 39,551 33,998 Purchase of treasury shares (75,000) (50,000) (150,000) (100,000) Excess tax benefit from stock-based compensation 2,035 1,127 2,088 2,960 ----------- ----------- ----------- ----------- Net cash used in financing activities (64,929) (46,935) (108,361) (63,042) ----------- ----------- ----------- ----------- Unrealized gain on marketable securities, net 9,633 2,051 6,094 5,988 ----------- ----------- ----------- ----------- Increase in cash and cash equivalents, marketable securities and short term deposits 117,605 89,178 274,862 293,917 Cash and cash equivalents, marketable securities and short term deposits at the beginning of the period 2,572,203 2,051,738 2,414,946 1,846,999 ----------- ----------- ----------- ----------- Cash and cash equivalents, marketable securities and short term deposits at the end of the period $ 2,689,808 $ 2,140,916 $ 2,689,808 $ 2,140,916 =========== =========== =========== ===========
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