Check Point net earnings up 25% to US$122mn in Q1

Tuesday, April 19, 2011

US internet security software firm Check Point (Nasdaq: CHKP) saw its first quarter global net profits grow 25% year-over-year to US$122mn, according to results released by the company.

Exceeding projections for the quarter, Check Point reported revenues of US$281mn, growing 15% compared with the US$245mn recorded during 1Q10.

According to Check Point Software founder and CEO Gil Shwed, growth was driven by the company's network security appliance product lines and the performance of its annuity software blades.

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During the quarter, Check Point introduced programs such as 3D security and the latest updates of software such as R75. According to the company, it achieved 100% in firewall, identity awareness and application control enforcement, as well as 97.3% security effectiveness for its IPS software blade product in separate NSS Labs tests.

Check Point relies on channel partners for 100% of its Latin American sales. It has offices in Mexico, Brazil, Colombia and Argentina.

Use this link to view the full results.