LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free earnings report on Check Point Software Technologies Ltd (NASDAQ: CHKP) ("Check Point"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CHKP. Check Point reported its fourth quarter and fiscal 2017 operating and financial results on January 31, 2018. The Network security provider reported better than expected earnings results. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Check Point Software Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, Check Point's total revenue grew 4% to $506 million compared to $487 million in Q4 2016. The Company's reported numbers missed analysts' estimates of $508.6 million.
For full year (FY) 2017, Check Point's revenues totaled $1.86 billion compared to $1.74 billion in FY 2016, reflecting a 7% increase on a y-o-y basis.
During Q4 2017, Check Point's GAAP operating income was $267 million compared to $241 million in Q4 2016, representing 53% and 50% of total revenues in the reported quarter and year ago same period, respectively. For Q4 2017, Check Point's non-GAAP operating income totaled $292 million versus $266 million in Q4 2016, representing 58% and 55% of overall revenues in Q4 2017 and Q4 2016, respectively.
Check Point's GAAP net income totaled $239 million, or $1.46 per diluted share, for Q4 2017 compared to net income of $222 million, or $1.31 per diluted share, in Q4 2016. The Company's reported quarter non-GAAP net income came in at $259 million, or $1.58 per diluted share, compared to $247 million, or $1.46 per diluted share, in the year earlier corresponding quarter. Check Point's earnings beat Wall Street's estimates of $1.50 per share.
For FY17, Check Point's GAAP net income was $803 million, or $4.82 per diluted share, compared to $725 million, or $4.18 per diluted share, in FY16. The Company's non-GAAP net income totaled $888 million, or $5.33 per diluted share, in FY17 compared to $818 million, or $4.72 per diluted share, in FY16.
Check Point Software Technologies' Segment Results
During Q4 2017, Security Subscriptions revenues advanced 18% to $130 million compared to $110 million in Q4 2016. The Company's software update and maintenance revenues reached $210 million representing 6% growth on a y-o-y basis.
From a deal size perspective, Check Point's number of customers with transactions over $1 million increased grew by 11% to 110 customers in Q4 2017 compared to 99 in Q4 2016. The Company's transactions greater than $50,000 were 75% of total order value, similar to the year ago same period.
As of December 31, 2017, Check Points' deferred revenues were $1.19 billion compared to $1.07 billion as of December 31, 2016, reflecting an 11% increase on a y-o-y basis.
During Q4 2017, Check Point's cash flow from operations totaled $248 million compared to $183 million in Q4 2016. For FY17, Check Point's cash flow from operations totaled $1.09 billion compared to $926 million in FY16.
During Q4 2017, Check Point repurchased approximately 2.4 million shares at a total cost of approximately $250 million. In FY17, the Company repurchased approximately 9.5 million shares at a total cost of approximately $995 million.
As of December 31, 2017, Check Point's cash balances, marketable securities, and short-term deposits were $3.85 billion compared to $3.67 billion as of December 31, 2016.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, Check Point Software Technologies' stock was marginally up 0.37%, ending the trading session at $101.20.
Volume traded for the day: 1.35 million shares.
Stock performance in the past twelve-month period - up 0.23%
After yesterday's close, Check Point Software Technologies' market cap was at $16.60 billion.
Price to Earnings (P/E) ratio was at 20.99.
The stock is part of the Technology sector, categorized under the Security Software & Services industry. This sector was up 1.8% at the end of the session.
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