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July 22, 2010

Check Point Q2 revenue up 17% to $261.1m

Product revenue up 25% to $103.9m

By CBR Staff Writer

Check Point Software Technologies has reported revenues of $261.1m for the second quarter of fiscal 2010, an increase of 17% as compared to $223.6m for the same period last year.

The company posted an operating income of $122.1m, an increase of 41% as compared to $86.7m of the same period a year ago.

For the second quarter of 2010, the company reported net income of $102.9m, an increase of 36% as compared to $75.6m in Q2 FY09.

For the quarter ended June 30, 2010, product revenue totaled $103.9m, increasing 25% year over year. The company’s cash flow from operations increased by 32% to $148.9m.

Gil Shwed, chairman and CEO of Check Point Software Technologies, said: "We experienced strong sales growth driven by 25% growth in product revenues. This enabled us to exceed our revenue projections and achieve the top-end of our earning per share projections. The growth in revenues came from all main product lines and geographies.

"Our record second quarter results were a nice conclusion to the first half of the year. We continued to execute and deliver top and bottom line growth while further expanding our product portfolio."

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