Check Point Software reports 2013 Q1 Financial Results

Check Point Software Technologies has announced its financial results for the first quarter ending March 31, 2013.

Gil Shwed, Founder, Chairman & CEO, Check Point Software Technologies, said, “In the first quarter, we significantly advanced attack prevention with the introduction of our leading-edge Threat Emulation Software Blade that prevents infections from undiscovered exploits, zero-day and targeted attacks. We were also recognized for our security leadership by Gartner, IDC and NSS Labs. This recognition underscores our product leadership and dedication to providing the best security to our customers.” 

The financial highlights of the first quarter of 2013 reveal that the company achieved total revenue of $322.7 million compared to $313.1 million in the first quarter of 2012 which depicted a 3-per cent increase year over year. The GAAP operating margin was 55% which is $177.0 million compared to $172.9 million in the first quarter of 2012. The Non-GAAP GAAP Operating Income was $189.1 million compared to $186.7 million in the first quarter of 2012. The company received GAAP net income and Earnings per Diluted share at $148.0 million. The GAAP earnings per diluted share were $0.73 compared to $0.68 in the first quarter of 2012.

As of March 31, 2013, deferred revenues were $586.4 million compared to $542.2 million in the first quarter of 2012. Cash flow from operations was $331.4 million compared to $275.3 million in the first quarter of 2012. During the first quarter of 2013, the company repurchased 2.64 million shares at a total cost of $131.6 million.

Check Point has been positioned as a leader in Gartner’s Magic Quadrant for Enterprise Network Firewall, as per the quarterly results report.