Checkpoint Technologies Posts 9 Percent Revenue Increase

Checkpoint Technologies unveiled its financial results for its second quarter, ending June 30, disclosing total revenue of $328.6 million, representing a 9 percent increase year over year from last year's second-quarter revenues of $300.6 million.

Non-GAAP operating income is reported at $193.6 million, representing 59 percent of revenues and also a 13 percent increase over the year-ago quarter. Meanwhile, non-GAAP earnings per share are listed at $0.77, representing a 13 percent increase over the same period last year. Non-GAAP net income stands at $161.8 million, an increase of 11 percent, compared to $145.5 million in the second quarter of 2011.

GAAP operating income was reported at $180.5 million, up 20 percent, compared to $150.1 million in the second quarter of 2011. GAAP operating margin was 55 percent, compared to 50 percent in the second quarter of 2011.

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"I'm pleased with the continued growth of our revenues and earnings in the second quarter," said Gil Shwed, the Redwood City, Calif.-based company's chairman and CEO, in a prepared statement. "During the quarter, enterprise appliance units grew by over 20 percent and continued to drive market share gains."

Checkpoint's board of directors also announced the expansion of the company's share repurchase program, authorizing Checkpoint to repurchase up to $1 billion of its outstanding shares during the next two years.

The company made several announcements during the second quarter, including new appliances aimed at averting DDoS attacks, a new anti-bot software blade, a security acceleration module, new software upgrades, free anti-virus for home users, new data collection components and the capability to consolidate up to 250 security gateways on a single hardware platform.


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