Check Point Software profit beats expectations

TEL AVIV, April 22 Mon Apr 22, 2013 5:51am EDT

TEL AVIV, April 22 (Reuters) - Internet and network security provider Check Point Software Technologies reported higher quarterly profit that topped expectations on higher sales of its software blades.

The Israeli company earned 79 cents a share excluding one-time items in the first quarter of 2013, up from 74 cents a year earlier. Revenue grew 3 percent to $322.7 million but came in below expectations due to a $5 million decline in super high-end deals which fluctuate greatly, the company said on Monday.

Check Point was forecast to have earned 78 cents a share on revenue of $328 million, according to Thomson Reuters I/B/E/S. Earnings per share were also at the high end of the company's own forecast of 74-80 cents.

During the first quarter, Check Point launched a new software blade - modular software building blocks that are bought on an annual subscription basis - that stops unwanted malware, or malicious software.

It also introduced a software blade for security and compliance monitoring.

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