 Check Point® Software Technologies Ltd. (NASDAQ: CHKP) today announced its financial results for the second quarter ended June 30, 2016. Second Quarter 2016: - Total Revenue: $423 million, representing a 7 percent increase year over year
- GAAP Operating Income: $202 million, representing 48 percent of revenue
- Non-GAAP Operating Income: $227 million, representing 54 percent of revenue
- GAAP EPS: $0.95, representing an 8 percent increase year over year
- Non-GAAP EPS: $1.09, representing a 10 percent increase year over year
- Deferred Revenues: $892 million, representing a 14 percent increase year over year
- Software Blades Subscriptions Revenues: $93 million, representing a 21 percent increase year over year
“We had a good second quarter with results toward the high-end of our expectations. Our newly launched security appliance lines optimized for threat prevention were embraced by customers and resulted in a marked increase in unit sales,” said Gil Shwed, founder and chief executive officer, Check Point. “In addition, our advanced threat prevention and zero-day malware protection software experienced high-growth and contributed to the acceleration in our software blades subscriptions revenues.” Financial Highlights for the Second Quarter of 2016: - Total Revenue: $423 million compared to $395 million in the second quarter of 2015.
- GAAP Operating Income: $202 million compared to $199 million in the second quarter of 2015.
- Non-GAAP Operating Income: $227 million compared to $221 million in the second quarter of 2015.
- GAAP Net Income and Earnings per Diluted Share: GAAP net income was $166 million compared to $163 million in the second quarter of 2015. GAAP earnings per diluted share were $0.95 compared to $0.88 in the second quarter of 2015.
- Non-GAAP Net Income: Non-GAAP net income was $190 million compared to $183 million in the second quarter of 2015.
- Non-GAAP Earnings per Diluted Share: $1.09 compared to $0.99 in the second quarter of 2015.
- Deferred Revenues: As of June 30, 2016, deferred revenues were $892 million compared to $780 million as of June 30, 2015.
- Cash Flow: Cash flow from operations of $202 million compared to $193 million in the second quarter of 2015.
- Share Repurchase Program: During the second quarter of 2016, the company repurchased 2.93 million shares at a total cost of $246 million. In May 2016, the company announced that its board of directors has authorized an extension to the company’s on-going share repurchase program. Under the updated program, effective immediately, Check Point is authorized to continue to repurchase up to an additional $250 million of shares up to an aggregate of $1.5 billion under the updated program.
- Cash Balances, Marketable Securities and Short Term Deposits: $3,708 million as of June 30, 2016, compared to $3,611 million as of June 30, 2015.
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