Checkpoint, Israel’s largest cybersecurity company, announced third quarter results today. Company sales continue slow, but steady growth, up 4 percent year-over-year. However, profits slipped slightly on year-to-year basis.
Total Revenue: $491 million compared to $471 million in the third quarter of 2018, a 4 percent increase year over year.
GAAP Operating Income: $214 million compared to $226 million in the third quarter of 2018, representing 44 percent and 48 percent of revenues in the third quarter of 2019 and 2018, respectively.
Non-GAAP Operating Income: $246 million compared to $250 million in the third quarter of 2018, representing 50 percent and 53 percent of revenues in the third quarter of 2019 and 2018, respectively.
GAAP Taxes on Income: $47 million compared to $45 million in the third quarter of 2018.
GAAP Net Income & Earnings per Diluted Share: GAAP net income was $188 million compared to $198 million in the third quarter of 2018. GAAP earnings per diluted share were $1.25, same as third quarter of 2018.
Non-GAAP Net Income & Earnings per Diluted Share: Non-GAAP net income was $217 million compared to $219 million in the third quarter of 2018. Non-GAAP earnings per diluted share were $1.44 compared to $1.38 in the third quarter of 2018, a 4 percent increase year over year.
Deferred Revenues: As of September 30, 2019, deferred revenues were $1,242 million, compared to $1,148 million, as of September 30, 2018, an 8 percent increase year over year.
Cash Balances, Marketable Securities & Short Term Deposits: $4,055 million as of September 30, 2019, compared to $4,072 million, as of September 30, 2018.
Cash Flow: Cash flow from operations of $244 million compared to $249 million in the third quarter of 2018.
Share Repurchase Program: During the third quarter of 2019, the company repurchased approximately 2.9 million shares at a total cost of approximately $323 million.
