Leading firewall and security vendor Check Point Software Technologies Ltd. credited a strengthening business environment for fourth quarter 2001 and fiscal year 2001 financial results released Tuesday that slightly exceeded Wall Street's expectations.
For the fourth quarter 2001, Check Point tallied earnings per share of US$0.30, beating Thompson Financial/First Call analyst estimates by a penny, but slightly down from the fourth quarter 2000, when Check Point earned $0.31 per share. Total revenue for the quarter was $123 million, though that figure was down from the $128 million First Call analysts had predicted. The fourth quarter 2000 had seen revenue of $140 million from the Redwood City, California-based company.
For the fiscal year ended Dec. 31, 2001, Check Point earned $1.25 per share, topping Thompson Financial/First Call estimates of $1.23 and easily besting 2000's figure of $0.84. Check Point also brought in $528 million in revenue for 2001, matching analyst expectations and beating 2000's $425 million in revenue.
For the year, the company spent just over $33 million in research and development compared to $30 million spent in 2000. Check Point ended 2001 with $1.142 billion in total assets, a hefty jump over the $778 million it had at the end of 2000.