Check Point Software Technologies Ltd. (Nasdaq: CHKP) today reported higher revenue and profits for the fourth quarter and full-year of 2012, beating the analysts' earnings per share consensus, but missing the revenue consensus.
Fourth quarter revenue rose 3% to $368.6 million from $356.8 million for the corresponding quarter of 2011. GAAP-based net profit rose 9% to $174 million ($0.85 per share) for the fourth quarter from $159.8 million for the corresponding quarter, and non-GAAP net profit rose 4% to $185.1 million ($0.91 per share) from $178.1 million. The analysts' consensus was earnings per share of $0.88 on $373.7 million.
For the year as a whole, revenue rose 8% to $1.34 billion from $1.25 billion in 2011. GAAP-based net profit rose 14% to $620 million ($2.96 per share) in 2012 from $544 million in 2011, and non-GAAP net profit rose 9% to $667.9 million ($3.19 per share) from $613.6 million. The analysts' consensus was earnings per share of $3.17 on $1.35 billion.
Deferred revenue rose 7% to $589.7 million at the end of 2012 from $552.2 million a year earlier.
Fourth quarter cash flow from operations rose 17% to $202.4 million from $173.2 million for the corresponding quarter, and full-year cash flow rose 14% to $815.8 million from $714.9 million in 2011. During the year, Check Point bought back 9.5 million shares for $466.2 million. The company increased its cash and marketable securities to $3.29 billion in at the end of 2012 from $2.88 billion a year earlier.
Check Point chairman and CEO Gil Shwed said, "Throughout 2012, customers continued to adopt the Software Blades Architecture and further consolidated their security infrastructure with our new appliance portfolio. Revenues from software blades had a significant contribution to our growth with over a 50% increase this year."
Check Point's share price rose 1.1% in after-hours trading to $48.51, giving a market cap of $9.9 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on January 23, 2013
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