Check Point posts 14 percent increase in 3rd-quarter profit on strong demand
By APThursday, October 22, 2009
Check Point 3Q profit rises 14 percent
REDWOOD CITY, Calif. — Check Point Software Technologies Ltd., which makes Internet security products, said Thursday its third-quarter profit rose 14 percent on strong sales across all of its regions, especially Asia Pacific.
Check Point earned $91.5 million, or 43 cents per share, up from $80.1 million, or 37 cents per share, in the year-ago period.
Excluding one-time items including stock-option, amortization and restructuring charges, the company posted an adjusted profit of $109.5 million, or 52 cents per share, compared with an adjusted $94.3 million, or 44 cents per share.
Revenue rose 17 percent to $233.6 million from $199.7 million.
The adjusted results beat Wall Street predictions. Analysts polled by Thomson Reuters expected a profit of 49 cents per share, excluding one-time items, on $230.7 million in revenue.
Company officials said the quarter’s results came in ahead of their expectations and were particularly encouraging given the state of the economy.
In midday trading, Check Point shares rose $1.37, or 4.6 percent, to $31.47.
