Check Point Beats Q1 Views

reported better-than-expected earnings for the first quarter. The company posted quarterly net income of $161 million, or $0.86 per share, versus $153 million, or $0.78 per share, in the year-ago quarter. Excluding one-time items, the company earned $0.95 per share, versus $0.84 per share. Its revenue climbed 9 percent to $373 million. However, analysts were expecting earnings of $0.91 per share on revenue of $370 million. GAAP operating income rose 7 percent to $197 million. Cash flow from operations rose to $285 million, from $172 million. During the quarter, Check Point repurchased 3.0 million shares at a cost of $242 million. As of March 31, 2015, the company had $3,734 million in cash balances, marketable securities and short term deposits, versus $3,662 million as of March 31, 2014. The average estimate among 14 Estimize users was for earnings of $0.92 per share and revenue of $372.80 million. "We are very pleased with the results of the first quarter. We continued to see success in all major geographies and delivered 11 percent growth in combined product and software blade revenues," said Gil Shwed, founder, chairman, and chief executive officer of Check Point Software Technologies. Check Point shares fell 3.55 percent to close at $81.75 yesterday.