Check Point board authorizes $200m share buyback program

The repurchase program has no time limit.

31 October 04 17:52, Globes correspondent

The board of directors of network security company Check Point (Nasdaq:CHKP)Check Point Software Technologies (Nasdaq:CHKP - News) has authorized the repurchase of up to an additional $200 million of the company's outstanding common stock in the open market or through privately negotiated transactions.

The company said that, under the repurchase program, share purchases may be made from time to time depending on market conditions, share price, trading volume and other factors. The repurchase program has no time limit and may be suspended from time to time or discontinued. As of September 30, 2004, Check Point had approximately 258 million shares of common stock outstanding on a fully diluted basis.

Check Point shares closed at $22.62 on Friday, giving the company a market cap of $5.65 billion.

Published by Globes [online] - www.globes.co.il - on October 31, 2004