Seeking Alpha
Profile| Send Message| ()  

Israel-based Check Point Software Technologies saw its profits grow 8% in its latest quarter, topping consensus estimates on an adjusted basis. Check Point, which is the world's second-largest network-security company, reported net income of $76.7 million ($0.34/share), versus $0.31 a year earlier. Revenue climbed 29% to $184 million. Two acquisitions took $0.07 a share off of net, meaning the company earned $0.41 on an adjusted basis. Consensus analyst estimates were for adjusted EPS of $0.38 on sales of $179 million. CEO Gil Shwed credited the "overall success of the quarter is a result of our pure focus on security and Unified Security Architecture. This is demonstrated by the growth of our new data security business and core network security business, which delivered the largest quarterly revenue contribution in our history" (full earnings call transcript later today). The company's shares are up 18.5% YTD.

Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.

Source: Check Point Tops Estimates on "Pure Focus on Security"