Check Point's Q3 profits increase 17%

Thursday, October 20, 2011

US internet security software firm Check Point (Nasdaq: CHKP) posted net profits of US$134mn during the third quarter, a 17% jump on US$114mn in the year-ago period, the company said in a statement.

Revenues hit US$308mn, up 13% year-over-year compared to US$273mn during the third quarter of 2010.

Product and license revenues accounted for US$120mn of the total, representing a 13.4% increase year-over-year, while software updates, maintenance and subscriptions accounted for the remainder, with a 12.4% increase.

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"We exceeded our projections as a result of growth in all regions. Our software blade platform continues to gain traction in the marketplace, while our annuity software blades have provided significant contribution to our revenue and deferred revenue growth," said Gil Shwed, chairman and CEO at Check Point.

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

Go to this link to read the full statement.