Check Point Software Q4 profit, revenue gains beat estimates

TEL AVIV Tue Jan 28, 2014 5:24am EST

TEL AVIV Jan 28 (Reuters) - Internet and network security provider Check Point Software Technologies reported higher quarterly profit that topped expectations on sales of new data centre appliances and threat prevention software blades.

The Israeli company also said it would buy up to another $1 billion of its outstanding shares, or a maximum of $200 million a quarter.

Check Point earned 98 cents a share excluding one-time items in the fourth quarter, up from 91 cents a year earlier. Revenue grew five percent to $387.1 million, the company said on Tuesday.

Check Point was forecast to have earned 95 cents a share on revenue of $383.6 million, according to Thomson Reuters I/B/E/S.

"The fourth quarter represented one of the best quarters that I can remember, which is reflected in our customer wins and deferred revenues. The Americas and Europe delivered great results," Chief Executive Officer Gil Shwed said.

In the first quarter of 2013, 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.

In 2013, Check Point bought back 10.1 million of its shares for $538 million.

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.