Check Point Software Q1 profit beats expectations slightly

TEL AVIV, April 29 Tue Apr 29, 2014 5:14am EDT

TEL AVIV, April 29 (Reuters) - Internet and network security provider Check Point Software Technologies reported higher quarterly profit that topped expectations by a cent on sales of data centre appliances and software blades.

Check Point earned 84 cents a share excluding one-time items in the first quarter, up from 79 cents a year earlier. Revenue grew 6 percent to $342 million, the Israel-based company said on Tuesday.

Check Point was forecast to have earned 83 cents a share on revenue of $341.9 million, according to Thomson Reuters I/B/E/S.

"Organisations today are faced with an ever-changing threat environment. The challenge is to build a security infrastructure that will withstand today and tomorrow's threats," 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. (Reporting by Tova Cohen)

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