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Check Point Gets by Q1

Check Point Software Technologies Ltd. (Nasdaq: CHKP) today posted earnings per share of 29 cents for the first quarter, compared to 16 cents in the first quarter of 2004, in line with analysts expectations. Net Income was $73.7 million, an increase of 76 percent from the same period last year.

On the downside, the company slightly missed revenue expectations, reporting revenue of $137.7 million, up 19 percent on the same period last year but a shade below analysts’ estimates of $138.86 million.

In morning trading, Check Point shares traded down $0.26 (1.19%) to $21.54 on the news.

Execs on this morning’s conference call said the addition of software-based SSL VPN products to the firm’s existing hardware helped results (see Check Point Unveils Connectra 2.0).

Gil Shwed, Check Point’s CEO, also gave a peek into the company’s future roadmap. The exec confirmed that a new, enhanced, enterprise version of Check Point’s flagship VPN-1 firewall/VPN is in the pipeline. “We expect the next major version of VPN-1 Pro to come pretty soon,” he said. “Definitely in the next two quarters... Our sales force has already started training on the new version."

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