Check Point Software Technologies Ltd. Enters into Settlement Agreement with Israeli Tax Authority
Nov 12 13
On November 11, 2013, Check Point Software Technologies Ltd. entered into a settlement agreement with the Israeli Tax Authority (the Settlement Agreement" and the ITA", respectively), with respect to (i) the release of profits generated by the company under the Israeli Law for the Encouragement of Capital Investments through the year ended December 31, 2011 pursuant to a temporary tax relief initiated by the Israeli government providing for a discounted tax rate, thereby resulting in the full release of such profits (known in Israel as trapped profits") for use by Check Point, and (ii) full settlement of all disputes with the ITA with respect to prior tax years in the company's reports filed with the SEC. The company has sufficient tax provisions to cover this resolution.
Check Point Software Technologies Ltd. Presents at Credit Suisse Group 2013 Annual Technology Conference, Dec-04-2013 11:30 AM
Nov 8 13
Check Point Software Technologies Ltd. Presents at Credit Suisse Group 2013 Annual Technology Conference, Dec-04-2013 11:30 AM. Venue: The Phoenician, 6000 East Camelback Road, Scottsdale, AZ 85251, United States. Speakers: Tal Payne, Chief Financial Officer.
Fujitsu and Check Point Software Technologies Ltd Announce Check Point Integrated Appliance Solutions (IAS) R-Series Security Appliance
Nov 5 13
Fujitsu announced at Fujitsu Forum 2013 that it is significantly minimizing customer implementation risks and shortening Information and Communications Technology (ICT) project times by further strengthening its global solutions portfolio and allying with software partners that are leaders in their respective segments. In the latest in a series of such alliances, Fujitsu is expanding its partnership with Check Point Software Technologies Ltd. to jointly bring to market the Check Point Integrated Appliance Solutions (IAS) R-Series security appliance powered by FUJITSU Server PRIMERGY Systems. Check Point IAS offer flexibility and choice in security appliances. They provide integrated solutions and direct support that are predesigned customized to organizations' exact specifications, enabling the provisioning of security services based on exact corporate needs. Available since July 2012 from Check Point in a limited number of countries including the US and the UK, Fujitsu and its worldwide network of channel partners will now extensively broaden international availability for the Check Point IAS R-Series. As the leader in securing the Internet, Check Point recommends system consolidation for strengthened security, simultaneously providing firewall protection, application control, IPS, DLP, anti-virus, URL filtering, and other security-related applications including the revolutionary ThreatCloud Emulation. Meanwhile, market demand continues to grow for security solutions that have already been sized, tested, integrated and installed on an optimized platform to minimize both operational risk and Total Cost of Ownership (TCO) while maximizing Return on Investment (ROI). Check Point IAS R-Series on PRIMERGY S8 Series meets these needs, while also providing a Unified Security Architecture with a single point of contact for support, delivered by Check Point. Check Point Integrated Appliance Solutions (IAS) R-Series security appliance selection powered by FUJITSU Server PRIMERGY Systems is already available to purchase from Check Point in US and the UK. From the first half of 2014, the selection will also be available via Fujitsu and its Channel Partners in Europe and other selected countries.
Check Point Software Technologies Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and Effective Tax Rate Guidance for the Year 2014
Oct 21 13
Check Point Software Technologies Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total revenues were $344,127,000 compared to $332,356,000 for the same period a year ago. Operating income was $186,491,000 compared to $182,646,000 for the same period a year ago. Income before taxes on income was $195,589,000 compared to $193,098,000 for the same period a year ago. Net income was $159,701,000 or $0.80 per diluted share compared to $152,407,000 or $0.73 per diluted share for the same period a year ago. Non-GAAP operating income was $200,795,000 compared to $195,597,000 for the same period a year ago. Non-GAAP net income was $168,890,000 or $0.85 per diluted share compared to $164,108,000 or $0.79 per diluted share for the same period a year ago. Net cash provided by operating activities was $195,478,000 compared to $180,447,000 for the same period a year ago. Investment in property and equipment was $2,759,000 compared to $1,175,000 for the same period a year ago.
For the nine months, the company reported total revenues were $1,007,029,000 compared to $974,121,000 for the same period a year ago. Operating income was $546,785,000 compared to $536,064,000 for the same period a year ago. Income before taxes on income was $572,333,000 compared to $566,752,000 for the same period a year ago. Net income was $458,669,000 or $2.29 per diluted share compared to $446,014,000 or $2.12 per diluted share for the same period a year ago. Non-GAAP operating income was $587,759,000 compared to $575,905,000 for the same period a year ago. Non-GAAP net income was $493,217,000 or $2.46 per diluted share compared to $482,842,000 or $2.29 per diluted share for the same period a year ago. Net cash provided by operating activities was $731,579,000 compared to $613,307,000 for the same period a year ago. Investment in property and equipment was $7,385,000 compared to $4,876,000 for the same period a year ago.
For the fourth quarter of 2013, the company expects revenue to be in the range of $365 million to $395 million and non-GAAP earnings per share in the range of $0.90 to $0.98 per share. The company expects GAAP EPS to be approximately $0.06 less.
The company expects its effective tax rate to increase in 2014 to approximately 22%.
Check Point Eyes Acquisitions
Oct 21 13
Check Point Software Technologies Ltd. (NasdaqGS:CHKP) is looking for acquisition opportunities. Gil Shwed, Chairman, and Chief Executive Officer, said that on the question of acquisitions, which Check Point has refrained from for a long time, Shwed said in the conference call that a vice president for acquisitions and business development had recently been appointed, and that the company continued to look for acquisitions. Asked whether Check Point was considering laying off employees like other technology companies, Shwed said, "There really is no desire to do that. For the time being, we're growing, and let's hope that that continues.