UPDATE 1-Check Point Q1 net profit jumps, beats estimates

* Non-GAAP EPS 55 cents vs forecast 53 cents

* Revenue up 26 percent to $245.1 million

* Enters secure virtual desktop, data loss protection mkts

(Adds details, CEO quote)

TEL AVIV, April 26 (BestGrowthStock) – Internet and network security
provider Check Point Software Technologies (CHKP.O: ) reported
record first-quarter results on Monday due to growth across all
its regions and the entry into two new markets.

Excluding one-time items, the Israel-based company posted
net profit of $116.8 million, or 55 cents per share, compared
with $95.5 million, or 45 cents a share, a year earlier.

Revenue grew 26 percent to $245.1 million.

Check Point was expected to record earnings per share of 53
cents, excluding items, on revenue of $240.7, according to
Thomson Reuters I/B/E/S. The company itself had forecast
quarterly revenue of $232 million to $245 million and non-GAAP
EPS of 48 to 55 cents.

“We delivered record first quarter results, attaining the
top end of our projections for both revenues and earnings per
share, while experiencing healthy growth across all regions,”
said Gil Shwed, chairman and chief executive, in a statement.

He noted the company entered the secure virtual desktop and
data loss prevention markets.

Check Point noted it generated record cash flow of $218
million in the first three months of 2010.
Stock Investing

(Reporting by Tova Cohen; Editing by Steven Scheer and David
Holmes)

UPDATE 1-Check Point Q1 net profit jumps, beats estimates