Check Point Q2: Sales and Profit Top Estimates

| About: Check Point (CHKP)

Check Point Softare Technologies (NASDAQ:CHKP) Tuesday morning reported Q2 sales and profit ahead of expectations and forecast Q3 sales and profit in line with estimates and a full-year forecast slightly ahead of estimates.

Sales in Q2 rose 12%, year over year, to $223.6 million, the company reported, yielding EPS, excluding some costs, of 48 cents, ahead of the $219.50 and 46-cent estimates. For Q3, the company forecast revenue in a range of $220 million to $236 million and profit per share of 42 cents to 51 cents, both of which are in line with estimates at the midpoint. For the full year, the company forecast sales of $870 million to $920 million and profit per share of $1.88 to $2, which are both slightly ahead of estimates at the mid-point.

On a conference call following the release, management said transactions greater than 50,000 increased in the period, rising to 51% of total orders from 41% a year earlier, and 21 customers had orders greater than $1 million, up from 14 customers a year earlier.

CEO Gil Schwed, remarking on the company’s recent user conference in Thailand, said attendence at the event was up, despite “the current macroeconomic environment,” which he said shows “the dedication of our customers and partners.”

The company repurchased $50 million of its stock during the quarter and said it has $400 million remaining under its current repurchase authorization.

Check Point shares rose $1.23, or 5%, to $26.07.

Original post

About this article:

Tagged: , Security Software & Services, Earnings
Problem with this article? Please tell us. Disagree with this article? .