Check Point Software Technologies (CHKP) has reported 9.04 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $182.55 million, or $1.08 a share in the quarter, compared with $167.42 million, or $0.95 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $201.50 million, or $1.20 a share compared with $187.09 million or $1.06 a share, a year ago. Revenue during the quarter grew 7.71 percent to $435.45 million from $404.27 million in the previous year period. Gross margin for the quarter contracted 19 basis points over the previous year period to 88.68 percent. Total expenses were 51.58 percent of quarterly revenues, up from 49.98 percent for the same period last year. That has resulted in a contraction of 160 basis points in operating margin to 48.42 percent.
Operating income for the quarter was $210.83 million, compared with $202.22 million in the previous year period.
However, the adjusted operating income for the quarter stood at $233.16 million compared to $223.73 million in the prior year period. At the same time, adjusted operating margin contracted 180 basis points in the quarter to 53.55 percent from 55.34 percent in the last year period.
"We started off 2017 with a positive trend delivering earning per share and revenues towards the top end of our projections,” said Gil Shwed, founder and chief executive officer of Check Point Software Technologies. “We have executed on our vision for consolidating security with the launch of Check Point Infinity, the cyber security platform for the future. The first consolidated security architecture across networks, cloud and mobile, providing the highest level of threat prevention."
Operating cash flow improvesCheck Point Software Technologies has generated cash of $355.41 million from operating activities during the quarter, up 9.73 percent or $31.51 million, when compared with the last year period. The company has spent $7.95 million cash to meet investing activities during the quarter as against cash outgo of $4.71 million in the last year period.
The company has spent $223.69 million cash to carry out financing activities during the quarter as against cash outgo of $230.14 million in the last year period.
Cash and cash equivalents stood at $3,796.76 million as on Mar. 31, 2017, up 1.81 percent or $67.59 million from $3,729.17 million on Mar. 31, 2016.
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