Firewall and VPN giant Check Point Software Technologies Inc. on Monday reported third-quarter earnings of $0.23 per share on revenue of $106.3 million.
Although revenue was up slightly from the $103 million reported during the same period in 2002, earnings per share fell from $0.25. Company officials attributed the drop to an increase in the number of outstanding shares and a higher tax payment. Net income also fell to $58.3 million, from $62.3 million in the third quarter of last year.
This past quarter was one of change for Check Point, based in Redwood City, Calif. The company has made its name by selling software solutions, mainly to large enterprises and government customers. However, Check Point this month introduced its first hardware line, the VPN-1 Edge security appliances. The company also unveiled two new solutions sets for small and medium businesses. Safe @ Office and Check Point Express.
Check Point officials indicated that the expansion of the product line will continue. Gil Shwed, CEO of Check Point, said the company plans to introduce a comprehensive Web security solution within the next few months. He also hinted that the company may be looking outside its own four walls for new technology.
“I think acquisitions are hard to predict. But I would say you might see both” in-house development and technologies acquired through acquisition, Shwed said.
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