18 July 12 12:52–Network security company Check Point Software Technologies Ltd. (Nasdaq: CHKP) today announced double-digit profit growth for the second quarter of 2012 and extended its share buyback program by $1 billion.

Revenue rose 9% to $328.6 million for the second quarter from $300.6 million for the corresponding quarter of 2011. GAAP-based net profit rose 17% to $150 million ($0.71 per share) for the second quarter from $128 million for the corresponding quarter, and non-GAAP net profit rose 11% to $161.8 million ($0.77 per share) from $145.5 million. The company missed the analysts’ consensus of $0.76 earnings per share on $331.4 million revenue.

Check Point’s deferred revenue rose 17% to $536.6 million at the end of June from $457 million a year earlier, but its cash flow from operations declined to $157.5 million for the second quarter from $175.5 for the corresponding quarter. The company cash and cash equivalents rose to $3.2 billion at the end of June from $2.69 billion a year earlier…Read More>>

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