Earnings Report: Check Point, Citrix Both Strong In 1Q - InformationWeek

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Earnings Report: Check Point, Citrix Both Strong In 1Q

Check Point Software Technologies Ltd. yesterday posted strong first-quarter revenue, reporting a 37% increase over the same period a year ago. The security vendor said revenue for the quarter was $43.8 million, up from $31.2 million for the same period last year. Check Point posted a profit of $19.7 million, or 49 cents per share, compared with 39 cents per share during the same period in 1998. The company credited its healthy financials to growth across all geographic regions, a 17% jump in technical services revenues, and a growing business with equipment makers.

Meanwhile, Citrix Systems said growing acceptance for its server-based systems software in the first quarter sparked a 72% revenue gain for the period ended March 31. Revenue for the quarter was $85 million, compared with $49 million during the first quarter of 1998. Net income was $28.2 million, or 30 cents per share, not including charges. For the same period last year, net income was $16.2 million, or 18 cents per share. The company also said its board of directors has approved a stock repurchase plan of up to $200 million of common stock.

Citrix also unveiled plans to form an Internet business unit that will focus on developing infrastructure technologies to support the application server provider market and the deployment and management of Web applications.

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