Check Point Q3 2016 revenues increase year over year

Check Point reported third quarter 2016 financial results. Revenues increase year over year.

check point software technologies 2016 revenuesCheck Point® Software Technologies Ltd. (NASDAQ: CHKP), announced its financial results for the third quarter ended September 30, 2016. “Third quarter financial results were very good with revenues coming in toward the upper end of our projections and earnings per share that exceeded our projections. Customers continue to leverage the Check Point security platform and increase their adoption of our advanced security capabilities which is resulting in higher subscription revenues. We continued to see strong sales of our SandBlast, Zero Day Protection solutions, resulting in triple-digit growth as customers focus on prevention” said Gil Shwed, founder and chief executive officer.

Third Quarter 2016:

Total Revenue: $428 million, a 6 percent increase year over year
Software Blades Subscriptions Revenues: $99 million, a 24 percent increase year over year
GAAP Operating Income: $206 million, representing 48 percent of revenues
Non-GAAP Operating Income: $231 million, representing 54 percent of revenues
GAAP EPS: $0.99, a 7 percent increase year over year
Non-GAAP EPS: $1.13, a 9 percent increase year over year
Deferred Revenues: $889 million, a 15 percent increase year over year

Financial Highlights for the Third Quarter of 2016:

Total Revenue: $428 million compared to $404 million in the third quarter of 2015.
GAAP Operating Income: $206 million compared to $205 million in the third quarter of 2015.
Non-GAAP Operating Income: $231 million compared to $228 million in the third quarter of 2015.
GAAP Net Income and Earnings per Diluted Share: GAAP net income was $170 million compared to $168 million in the third quarter of 2015. GAAP earnings per diluted share were $0.99 compared to $0.92 in the third quarter of 2015.
Non-GAAP Net Income: Non-GAAP net income was $194 million compared to $188 million in the third quarter of 2015.
Non-GAAP Earnings per Diluted Share: $1.13 compared to $1.04 in the third quarter of 2015.
Deferred Revenues: As of September 30, 2016, deferred revenues were $889 million compared to $772 million as of September 30, 2015.
Cash Flow: Cash flow from operations of $214 million compared to $228 million in the third quarter of 2015.
Share Repurchase Program: During the third quarter of 2016, the company repurchased 3.2 million shares at a total cost of $247 million.
Cash Balances, Marketable Securities and Short Term Deposits: $3,708 million as of September 30, 2016, compared to $3,612 million as of September 30, 2015.

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