SAN CARLOS, Calif., April 18, 2019 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), nowadays introduced its economic consequences for the first quarter ended March 31, 2019.
First Quarter 2019:
Total Revenue: $472 million, a 4 percentage increase yr over yr
Deferred Revenues: $1,312 million, a thirteen percentage boom year over 12 months
GAAP Operating Income: $206 million, representing forty four percent of sales
Non-GAAP Operating Income: $235 million, representing 50 percentage of sales
GAAP EPS: $1.15, Non-GAAP EPS: $1.32
“We had desirable consequences inside the first sector with 13 percentage growth in our safety subscriptions consisting of advanced answers for Cloud and Mobile as well as SandBlast Zero day danger prevention,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “During the region we launched a series of latest products, such as Maestro which presents cloud-grade elasticity and resiliency for networks, and the 6000 series safety home equipment which can be optimized for prevention of Gen V threats. Additionally, the Infinity Gen V security platform verified strong traction within the sector and drove new customer acquisition.”
Financial Highlights for the First Quarter of 2019:
Total Revenue: $472 million compared to $452 million inside the first zone of 2018, a 4 percent increase yr over yr. Revenues have been above the midpoint of our steering.
GAAP Operating Income: $206 million as compared to $213 million within the first sector of 2018, representing forty four percent and forty seven percent of revenues inside the first area of 2019 and 2018, respectively.
Non-GAAP Operating Income: $235 million as compared to $239 million in the first area of 2018, representing 50 percentage and fifty three percent of revenues within the first area of 2019 and 2018, respectively.
GAAP Taxes on Income: $forty five million in comparison to $forty one million within the first sector of 2018.
GAAP Net Income and Earnings in step with Diluted Share: GAAP internet income became $a hundred and eighty million as compared to $187 million in the first area of 2018. GAAP income per diluted share were $1.15 as compared to $1.16 within the first region of 2018.
Non-GAAP Net Income and Earnings in step with Diluted Share: Non-GAAP net income become $205 million compared to $210 million in the first area of 2018. Non-GAAP income consistent with diluted share have been $1.32 compared to $1.30 within the first zone of 2018, a 2 percentage growth year over year.
Deferred Revenues: As of March 31, 2019, deferred sales were $1,312 million compared to $1,166 million as of March 31, 2018, a thirteen percentage increase 12 months over 12 months.
Cash Balances, Marketable Securities and Short Term Deposits: $4,175 million as of March 31, 2019, as compared to $four,039 million as of December 31, 2018.
Cash Flow: Cash waft from operations of $379 million protected an acquisition related payment of $2 million as compared to $419 million in the first area of 2018, which protected a tax refund of $45 million associated with a prior year.
Share Repurchase Program: During the primary area of 2019, the organisation repurchased approximately 2.7 million stocks at a complete fee of approximately $305 million.
For records regarding the non-GAAP economic measures mentioned in this release, in addition to a reconciliation of such non-GAAP financial measures to the most without delay similar GAAP financial measures, please see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”
First Quarter Key Highlights
Check Point Maestro HyperScale: Check Point Maestro is a innovative new structure that enables businesses of any size to experience the electricity of cloud-grade elasticity and resiliency in a security platform. Maestro enables seamless expansion of existing safety gateways to hyperscale capability by way of allowing groups to extend from one gateway up to fifty two gateways in mins and comprehend the overall performance of massive Terabit/2nd firewall throughput.
6000 Series Gateways: The new 6500 and 6800 security home equipment set new standards of protection against superior fifth-era threats, whilst providing advanced performance and dexterity. The 6500 and 6800 gateways supply the strength to look at SSL-encrypted community visitors without compromising on overall performance or uptime. The 6500 provides 20Gbps uncooked firewall bandwidth and 3.4Gbps of chance prevention output. The 6800 affords 42Gbps raw firewall bandwidth and 9Gbps hazard prevention output.
Check Point Launches Partner Program to Accelerate Sales and Reward Partners for Client Engagement: The new Engage associate application at once rewards answer companies with Check PointS for sports that deepen consumer relationships.
Check Point CloudGuard Dome9 Named ‘Security Innovation of the Year’ in 2018-19 Cloud Awards:
Recognized for its comprehensive software program platform for public cloud safety and compliance orchestration.
Check Point SandBlast Agent Earns ‘NSS Labs Recommended’ Rating in 2019 Advanced Endpoint Protection Test: NSS Labs gave a ‘advocated’ rating to Check Point’s SandBlast Agent answer for detecting 100% of HTTP and electronic mail threats and one hundred% of malware using state-of-the-art evasion strategies, whilst offering 0 fake positives.
Completed ForceNock Acquisition: A net utility and API protection startup acquisition in an effort to reinforce Check Point services and abilities with advanced machine gaining knowledge of protection.
Check Point Research https://research.Checkpoint.Com exposed numerous findings that covered vulnerabilities in extensively deployed applications and offerings including WinRar, Windows Deployment Services and RDP protocols. Exposed campaigns focused on Public Cloud Linux servers, cell devices and geographical region targets, and created the world’s first repository for MacOS malware.
Vulnerabilities in Applications & Infrastructure:
Vulnerabilities in WinRAR: Check Point Research observed a 19-12 months-old vulnerability in WinRAR, the world’s maximum popular compression tool probably exposing 500 million customers to a far off code execution.
Windows – Vulnerabilities in RDP Protocols: Check Point Research these days discovered more than one vital vulnerabilities within the usually used Remote Desktop Protocol (RDP) that might allow a malicious actor to opposite the same old route of verbal exchange and infect the IT professional or protection researcher’s laptop. Such an contamination could then permit for an intrusion into the IT community as a whole.
Windows – Vulnerabilities in WDS: Check Point Research determined vulnerabilities in Windows Deployment Services (WDS). Through the vulnerability, an attacker should doubtlessly have changed it to manipulate the content material of every new pc and equip it along with his own proprietary malware.
Malware and Campaigns Research:
Cloud Security: SpeakUp – A New Trojan Hits Linux Servers: Check Point Research found a brand new campaign exploiting Public Cloud Linux servers to implant a new Backdoor, which evades all security vendors. The new Trojan, named “SpeakUp” after one of its command and control names, exploits known vulnerabilities in six special Linux distributions.
N.Korea Attacks Russian Targets: Check Point Research located what appears to be a coordinated attack towards Russian entities by the North Korean APT institution, Lazarus. The attack waft includes the distribution of ZIP documents, containing a benign PDF decoy record and a malicious Word document with macros that deploy the Lazarus backdoor that collects facts approximately the sufferer’s machine.
Joomla Spam Campaign: Check Point Research identified a new campaign from a known chance actor who’s now exploiting a new backdoor with an old vulnerability in Joomla! Using it to monetize his attack thru a worthwhile unsolicited mail campaign.
Windows – Cuckoo Black: Check Point Research diagnosed an assault concentrated on Windows servers in APAC and found out the attackers infrastructure. The importing of sensitive facts, which includes Windows login credentials, OS version and IP addresses changed into occurring at between three-10 specific victims every 2d.
Mobile – Chinese SDK Infection: Check Point Research located a collection of Android apps vastly harvesting touch information on cell phones without the consumer’s consent. The facts stealing logic hides internal a Software Development Kit (SDK) seen in as much as 12 different cellular applications and downloaded over 111 million instances.
Mobile – SimBad Adware: Check Point Research found a brand new adware marketing campaign on the Google Play Store. The ‘SimBad’ Adware became resident in 206 applications and downloaded through nearly 150 million users.
MacoPedia, A Catalogue of Mac Malware: Check Point Research launched a whole Mac Malware portal that collects and summarizes all information approximately MacOS malware.
Conference Call and Webcast Information
Check Point will host a convention call with the investment network on April 18, 2019, at eight:30 AM ET/5:30 AM PT. To concentrate to the stay webcast or replay, please visit the website: www.Checkpoint.Com/ir.
Second Quarter Investor Conference Participation Schedule:
Jefferies 2019 Global Technology, Media and Telecom Conference
May nine, 2019 – Beverly Hills, CA
J.P. Morgan forty seventh Annual Technology, Media and Telecom Conference
May 14, 2019 – Boston, MA
Macquarie & Company TMT Company Day
May 21, 2019 – New York, NY
Bank of America Merrill Lynch 2018 Global Technology Conference
June 4, 2019 – San Francisco, CA
2019 Baird Global Consumer, Technology & Services Conference
June 6, 2019 – New York, NY
Nasdaq fortieth London Investor Conference
June 13, 2019 – London, UK
Members of Check Point’s management group are predicted to provide at these conferences and talk the ultra-modern agency techniques and initiatives. Check Point’s conference presentations are anticipated to be to be had thru webcast at the company’s web web page. To view these presentations and access the maximum updated records please visit the company’s internet site at www.Checkpoint.Com/ir. The time table is situation to change.
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.Checkpoint.Com) is a main issuer of cyber security solutions to governments and company organisations globally. Its solutions protect customers from cyber-attacks with an enterprise main capture price of malware, ransomware and other styles of assaults. Check Point offers a multilevel security architecture that defends corporations’ cloud, network and cellular tool held facts, plus the maximum complete and intuitive one point of control protection management machine. Check Point protects over a hundred,000 groups of all sizes.
©2019 Check Point Software Technologies Ltd. All rights reserved
Legal Notice Regarding Forward-Looking Statements
This press launch incorporates forward-searching statements inside the which means of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements normally relate to destiny occasions or our destiny monetary or operating performance. Forward-searching statements in this press launch include, but are not restrained to, statements associated with our expectancies regarding our products and answers, together with Maestro, the 6000 Series Gateways, and the Infinity Gen V security platform, expectancies related to our new Engage partner program and the Infocyte partnership, the expected advantages of the ForceNock acquisition, and our participation in investor meetings throughout the second area of 2019. Our expectations and beliefs regarding these subjects may not materialize, and actual outcomes or activities within the destiny are subject to dangers and uncertainties that could motive real outcomes or events to differ materially from the ones projected. These dangers encompass our capacity to retain to develop platform skills and solutions; client reputation and buy of our existing answers and new solutions; the market for IT protection continuing to broaden; opposition from different services and products; and widespread market, political, financial and commercial enterprise conditions. The forward-looking statements contained in this press launch also are subject to different dangers and uncertainties, such as those extra fully described in our filings with the Securities and Exchange Commission, which includes our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 27, 2018. The ahead-searching statements in this press release are based on statistics available to Check Point as of the date hereof, and Check Point disclaims any responsibility to replace any forward-looking statements, except as required by way of regulation.
Use of Non-GAAP Financial Information
In addition to reporting monetary effects in accordance with commonly prevalent accounting ideas, or GAAP, Check Point uses non-GAAP measures of running income, net profits and profits per diluted proportion, that are adjustments from consequences primarily based on GAAP to exclude, as applicable, stock-based repayment prices, amortization of intangible belongings and acquisition associated charges and the related tax influences. Check Point’s control believes the non-GAAP monetary statistics furnished on this launch is useful to investors’ know-how and assessment of Check Point’s ongoing core operations and potentialities for the destiny. Historically, Check Point has also publicly presented those supplemental non-GAAP economic measures that allows you to help the funding network to see the Company “through the eyes of management,” and thereby enhance expertise of its working overall performance. The presentation of this non-GAAP monetary records isn’t intended to be considered in isolation or as a substitute for consequences prepared according with GAAP. A reconciliation of the non-GAAP financial measures mentioned on this press launch to the most without delay comparable GAAP economic measures is included with the financial statements contained on this press launch. Management uses both GAAP and non-GAAP records in comparing and running enterprise internally and as such has determined that it’s far important to offer this statistics to traders.