Revenues Keep Rolling In At Check Point

The figures were up 8.5 percent from the first quarter of 2004, when Check Point reported revenues of $116.1 million, and up 20 percent from the second quarter of 2003, when the firm reported revenues of $106.1 million.

According to Check Point CEO Gil Shwed, the numbers tell a tale of strong performance by a growing firm.

"Check Point's organic growth, combined with the addition of our new consumer and enterprise endpoint security solutions, allowed us to achieve exceptional results against our key financial metrics," he said. "With our new products, customers can now address their dynamic and evolving Internet security challenges with a broad range of new and enhanced solutions."

In particular, Shwed referred to the firm's 24-percent rise in license revenue growth. He also noted that the company generated cash flow from operating activities of $81.9 million, an increase of 21 percent compared to the quarter ended June 30, 2003.

As part of the Israel-based company's share repurchase program, during the quarter Check Point purchased 3.3 million shares at a total cost of $78.6 million. Total cash and interest bearing investments as of June 30, 2004, was $1.59 billion.

Check Point, which has its U.S. headquarters in Redwood City, Calif., made a number of announcements during the quarter. On the channel front, the company announced a new Valued Partner Program that provides expanded tools to enable partners to market and sell Check Point products. On the product front, the firm expanded its Web Security portfolio, including the Web Intelligence, Connectra, and SSL Network Extender products.

Check Point also unveiled Integrity Clientless Security 2.0 for SSL VPN improvement, and ZoneAlarm Security Suite for desktop security. The ZoneAlarm product is a direct descendent of Zone Labs, the San Francisco-based security firm that Check Point acquired in December 2003.