Check Point Software Technologies Ltd. (CHKP) has announced its financial results for the second quarter ended June 30, 2012. The result highlighted the total revenue of $328.6 million, representing a 9 percent increase year over year. Non-GAAP Operating Income is at $193.6 million, representing 59 percent of revenues. Whereas, Non-GAAP EPS is $0.77, representing a 13 percent increase year over year. Share Repurchase Program has expanded on-going program up to 1 billion dollars.
Gil Shwed, Founder, Chairman & CEO, Check Point Software Technologies said, “I’m pleased with the continued growth of our revenues and earnings in the second quarter. We’ve seen great acceptance of our new security appliances as a platform of choice for security consolidation. During the quarter, enterprise appliance units grew by over 20% and continued to drive market share gains. These results underscore the strength of Check Point’s market position especially in light of the current macro-economic environment.”
Furthermore, the company also announced that its board of directors authorized the expansion of the on-going share repurchase program up to one billion dollars. Under the expanded plan, Check Point is authorized to repurchase up to one billion dollars of its outstanding shares during the next two years.
Tal Payne, Chief Financial Officer, Check Point Software Technologies Ltd. said, “We believe that our market leadership and long term growth prospects make this an effective time to further utilize our cash to increase shareholder value.”
