UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign
Private Issuer
Pursuant to Rule
13a-16 or 15d-16
of the Securities
Exchange Act of 1934
For the month of
October, 2008
Commission File Number
0-28584
CHECK POINT SOFTWARE
TECHNOLOGIES LTD.
|
|
(Translation of
registrants name into English)
|
5 Ha'solelim Street, Tel Aviv, Israel
(Address of principal executive offices)
Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
o
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1)
only permits the submission in paper of a Form 6-K if submitted solely to provide an
attached annual report to security holders.
Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7)
only permits the submission in paper of a Form 6-K if submitted to furnish a report or
other document that the registrant foreign private issuer must furnish and make public
under the laws of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrants home country), or under the rules of
the home country exchange on which the registrants securities are traded, as long as
the report or other document is not a press release, is not required to be and has not
been distributed to the registrants security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission filing on
EDGAR.
Indicate by check mark whether the
registrant by furnishing the information contained in this Form, is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
o
No
x
If Yes is marked,
indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
|
|
|
|
|
|
|
|
|
|
INVESTOR CONTACT:
|
MEDIA CONTACT:
|
Kip E. Meintzer
|
Greg Kunkel
|
Check Point Software Technologies
|
Check Point Software Technologies
|
+1 650.628.2040
|
+1 650.628.2070
|
ir@us.checkpoint.com
|
press@us.checkpoint.com
|
CHECK POINT SOFTWARE
REPORTS
FINANCIAL RESULTS FOR
THE THIRD QUARTER 2008
REDWOOD CITY, Calif.,
October 28, 2008
Check Point® Software Technologies Ltd. (NASDAQ: CHKP),
the worldwide leader in securing the Internet, today announced revenue of $199.7 million
for the quarter ended September 30, 2008. GAAP net income and diluted earnings per share
for the quarter were $80.1 million and $0.37, respectively. Non GAAP
1
net
income and diluted earnings per share for the quarter were $94.2 million and $0.44,
respectively.
We are very pleased with our
performance during the quarter and believe it can be attributed to the continued
implementation of our total security strategy. said Gil Shwed, chairman and chief
executive officer at Check Point. During the quarter we added many new customer
accounts across all industries despite the challenging economic environment. As a result
of our successful execution we achieved financial results at the upper range of our
guidance for both revenues and earnings per share.
Financial Highlights for
the Third Quarter of 2008:
|
Total
Revenues:
$199.7 million compared to $184.0 million in the third quarter of 2007.
|
|
GAAP
Net Income
: $80.1 million or $0.37 per diluted share as compared to $76.7 million or
$0.34 per diluted share in the third quarter of 2007.
|
|
Non
GAAP Net Income:
$94.2 million or $0.44 per diluted share compared to $91.9 million
or $0.41 per diluted share in the third quarter of 2007.
|
|
Operating
Income:
GAAP operating income was $90.4 million, compared to GAAP operating income of
$77.7 million in the third quarter of 2007. Non-GAAP operating income was $106.2 million,
or 53% of revenues, compared to non-GAAP operating income of $96.3 million, or 52% of
revenues, in the third quarter of 2007.
|
|
Deferred
Revenues
: As of September 30, 2008, we had deferred revenues of $272.9 million, an
increase of $45.7 million or 20% compared to deferred revenues as of September 30, 2007.
|
|
Operating
Cash Flow:
$115.1 million in cash flow from operations compared to $88.8 million in
the third quarter of 2007. During the third quarter we received $22.5 million refund from
the Israeli tax authorities.
|
|
Cash:
As
of September 30, 2008, we had $1.4 billion in cash and cash equivalents, deposits and
marketable securities.
|
|
Share
Repurchase Program
: During the third quarter of 2008, Check Point repurchased
approximately 2.0 million shares at an approximate cost of $49.8 million.
|
1
See
Use of Non-GAAP Financial Information and Reconciliation of
Non GAAP to GAAP Financial Information below for more information
regarding Check Points use of non-GAAP measures.
|
Business Highlights for
the Third Quarter of 2008:
Our total security strategy was
extended this quarter with the general availability of Check Point Endpoint
Security, the first single agent for PCs to combine the highest-rated firewall,
network access control (NAC), program control, remote access, antivirus, anti-spyware,
full disk encryption and media encryption with port protection. By creating a single
endpoint security agent with a single client interface we dramatically simplified endpoint
deployment and management for our customers. Our endpoint solution was also recognized as
a leader in Gartners Magic Quadrant for Mobile Data Protection during the
quarter.
We continued to offer open choice for
deployment of our network security solutions and introduced VPN-1® Virtual Edition
(VE), making Check Point the first security vendor to provide unified security management
for both physical networks and virtual applications. Check Points VPN-1 VE
restores the separation and security of applications on virtualized servers.
Mr.
Shwed concluded, During the quarter, we continued to deliver new and
innovative products and experienced success with our Power-1 and UTM-1 appliance
product lines that were introduced earlier this year. Moving forward, we will
continue to execute on our total security strategy and focus on addressing the
ever-changing security challenges facing our customers every day.
Conference Call and
Webcast Information
Check Point will host a conference
call with the investment community on October 28, 2008 at 8:30 AM ET/5:30 AM PT. To listen
to the live webcast, please visit Check Points website at
http://www.checkpoint.com/ir
. A replay of the conference call will be available
through November 11, 2008 by telephone at +1.201.612.7415 passcode # 299895 account #215,
or at the companys website
http://www.checkpoint.com/ir
.
About Check Point
Software Technologies Ltd.
Check Point Software Technologies
Ltd. (www.checkpoint.com) is the leader in securing the Internet. Check Point offers total
security solutions featuring a unified gateway, single endpoint agent and single
management architecture, customized to fit customers dynamic business needs. This
combination is unique and is a result of our leadership and innovation in the enterprise
firewall, personal firewall/endpoint, data security and VPN markets.
Check Points award-winning
ZoneAlarm solutions protect millions of consumer PCs from hackers, spyware and identity
theft. Check Point solutions are sold, integrated and serviced by a network of Check Point
partners around the world and its customers include 100 percent of Fortune 100 companies
and tens of thousands of businesses and organizations of all sizes.
©20032008 Check Point
Software Technologies Ltd. All rights reserved.
Use of Non-GAAP Financial
Information
In addition to reporting financial
results in accordance with generally accepted accounting principles, or GAAP, Check Point
uses non-GAAP measures of net income, operating income and earnings per share, which are
adjustments from results based on GAAP to exclude non-cash equity-based compensation
charges in accordance with SFAS 123R, in-process R&D expense, acquisition related
charges and impairment of marketable securities in accordance with SFAS 115. Check
Points management believes the non-GAAP financial information provided in this
release is useful to investors understanding and assessment of Check Points
ongoing core operations and prospects for the future. Historically, Check Point has also
publicly presented these supplemental non-GAAP financial measures in order to assist the
investment community to see the Company through the eyes of management, and
thereby enhance understanding of its operating performance. The presentation of this
non-GAAP financial information is not intended to be considered in isolation or as a
substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP
financial measures discussed in this press release to the most directly comparable GAAP
financial measures is included with the financial statements contained in this press
release. Management uses both GAAP and non-GAAP information in evaluating and operating
business internally and as such has determined that it is important to provide this
information to investors.
Safe Harbor Regarding
Forward Looking Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, including, but not
limited to, statements related to Check Points expectations regarding the continued
execution of our total security vision. Because these statements pertain to future events
they are subject to various risks and uncertainties, actual results could differ
materially from Check Points current expectations and beliefs. Factors that
could cause or contribute to such differences include, but are not limited to: Check
Points development and delivery of its security products; general market conditions
in the Check Points industry; economic and political uncertainties; the impact of
political changes and weaknesses in various regions of the world, including
hostilities or acts of terrorism in Israel, where Check Points
international headquarters are based; inclusion of network security functionality in
third-party hardware or system software; any foreseen and unforeseen developmental or
technological difficulties with regard to Check Points products; changes in the
competitive landscape, including new competitors or the impact of competitive pricing and
products; rapid technological advances and changes in customer requirements to which Check
Point is unable to respond expeditiously, if at all; a shift in demand for products such
as Check Points; factors affecting third parties with which Check Point has formed
business alliances; and the timely availability and customer acceptance of Check
Points new and existing products. The forward-looking statements contained in this
press release are subject to other factors and risks, including those discussed in Check
Points Annual Report on Form 20-F for the year ended December 31, 2007, which is on
file with the Securities and Exchange Commission. Check Point assumes no obligation to
update these forward-looking statements.
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share amounts)
|
Three Months Ended
|
Nine Months Ended
|
|
September 30,
|
September 30,
|
|
2008
|
2007
|
2008
|
2007
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products and licenses
|
|
|
$
|
81,925
|
|
$
|
76,890
|
|
$
|
244,277
|
|
$
|
216,256
|
|
Software updates, maintenance and
|
|
|
services
|
|
|
|
117,795
|
|
|
107,122
|
|
|
346,646
|
|
|
307,917
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
|
199,720
|
|
|
184,012
|
|
|
590,923
|
|
|
524,173
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
Cost of products and licenses
|
|
|
|
10,267
|
|
|
8,511
|
|
|
28,953
|
|
|
20,498
|
|
Cost of software updates,
|
|
|
maintenance and services
|
|
|
|
6,941
|
|
|
6,249
|
|
|
20,792
|
|
|
17,606
|
|
Amortization of technology
|
|
|
|
5,800
|
|
|
7,154
|
|
|
18,754
|
|
|
20,570
|
|
|
|
|
|
|
|
|
|
|
Total cost of revenues
|
|
|
|
23,008
|
|
|
21,914
|
|
|
68,499
|
|
|
58,674
|
|
|
|
|
Research and development
|
|
|
|
23,193
|
|
|
19,885
|
|
|
69,762
|
|
|
59,528
|
|
Selling and marketing
|
|
|
|
50,796
|
|
|
52,515
|
|
|
161,044
|
|
|
159,853
|
|
General and administrative
|
|
|
|
12,294
|
|
|
12,038
|
|
|
38,865
|
|
|
37,759
|
|
Acquired in process research
|
|
|
and development
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
17,000
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses
|
|
|
|
109,291
|
|
|
106,352
|
|
|
338,170
|
|
|
332,814
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
|
|
90,429
|
|
|
77,660
|
|
|
252,753
|
|
|
191,359
|
|
Financial income, net
|
|
|
|
7,751
|
|
|
11,569
|
|
|
35,160
|
|
|
36,282
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
|
|
98,180
|
|
|
89,229
|
|
|
287,913
|
|
|
227,641
|
|
Taxes on income
|
|
|
|
18,119
|
|
|
12,491
|
|
|
50,421
|
|
|
34,494
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
$
|
80,061
|
|
$
|
76,738
|
|
$
|
237,492
|
|
$
|
193,147
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share (basic)
|
|
|
$
|
0.37
|
|
$
|
0.35
|
|
$
|
1.10
|
|
$
|
0.86
|
|
|
|
|
|
|
|
|
|
|
Number of shares used in computing
|
|
|
earnings per share (basic)
|
|
|
|
213,728
|
|
|
221,893
|
|
|
215,247
|
|
|
223,361
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share (diluted)
|
|
|
$
|
0.37
|
|
$
|
0.34
|
|
$
|
1.09
|
|
$
|
0.85
|
|
|
|
|
|
|
|
|
|
|
Number of shares used in computing
|
|
|
earnings per share (diluted)
|
|
|
|
216,567
|
|
|
224,974
|
|
|
217,942
|
|
|
226,266
|
|
|
|
|
|
|
|
|
|
|
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
RECONCILIATION OF NON-GAAP TO GAAP FINANCIAL INFORMATION
(In thousands, except per share amounts)
|
Three Months Ended
|
Nine Months Ended
|
|
September 30,
|
September 30,
|
|
2008
|
2007
|
2008
|
2007
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
GAAP operating income
|
|
|
$
|
90,429
|
|
$
|
77,660
|
|
$
|
252,753
|
|
$
|
191,359
|
|
Stock-based compensation (1)
|
|
|
|
6,857
|
|
|
8,299
|
|
|
24,313
|
|
|
25,225
|
|
Amortization of intangible assets (2)
|
|
|
|
8,893
|
|
|
10,338
|
|
|
28,090
|
|
|
29,639
|
|
Acquired in process research and
|
|
|
development
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
17,000
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating income
|
|
|
$
|
106,179
|
|
|
96,297
|
|
$
|
305,156
|
|
$
|
263,223
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
|
|
|
$
|
80,061
|
|
$
|
76,738
|
|
$
|
237,492
|
|
$
|
193,147
|
|
Stock-based compensation (1)
|
|
|
|
6,857
|
|
|
8,299
|
|
|
24,313
|
|
|
25,225
|
|
Amortization of intangible assets (2)
|
|
|
|
8,893
|
|
|
10,338
|
|
|
28,090
|
|
|
29,639
|
|
Acquired in process research and
|
|
|
development
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
17,000
|
|
Other than temporary impairment (3)
|
|
|
|
2,288
|
|
|
-
|
|
|
2,288
|
|
|
-
|
|
Taxes on stock-based compensation,
|
|
|
amortization of intangible assets and
|
|
|
other than temporary impairment (4)
|
|
|
|
(3,849
|
)
|
|
(3,438
|
)
|
|
(11,867
|
)
|
|
(8,782
|
)
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
|
|
|
$
|
94,250
|
|
$
|
91,937
|
|
$
|
280,316
|
|
$
|
256,229
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Earnings per share (diluted)
|
|
|
$
|
0.37
|
|
$
|
0.34
|
|
$
|
1.09
|
|
$
|
0.85
|
|
Stock-based compensation (1)
|
|
|
|
0.04
|
|
|
0.04
|
|
|
0.11
|
|
|
0.11
|
|
Amortization of intangible assets (2)
|
|
|
|
0.04
|
|
|
0.05
|
|
|
0.13
|
|
|
0.14
|
|
Acquired in process research and
|
|
|
development
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0.07
|
|
Other than temporary impairment (3)
|
|
|
|
0.01
|
|
|
-
|
|
|
0.01
|
|
|
-
|
|
Taxes on stock-based compensation,
|
|
|
amortization of intangible assets and
|
|
|
other than temporary impairment (4)
|
|
|
|
(0.02
|
)
|
|
(0.02
|
)
|
|
(0.05
|
)
|
|
(0.04
|
)
|
|
|
|
|
|
|
|
|
|
Non-GAAP Earnings per share (diluted)
|
|
|
$
|
0.44
|
|
$
|
0.41
|
|
$
|
1.29
|
|
$
|
1.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares used in computing
|
|
|
Non-GAAP earnings per share (diluted)
|
|
|
|
216,567
|
|
|
224,974
|
|
|
217,942
|
|
|
226,266
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Stock-based compensation:
|
|
|
Cost of products and licenses
|
|
|
$
|
15
|
|
$
|
27
|
|
$
|
42
|
|
$
|
52
|
|
Cost of software updates,
|
|
|
maintenance and services
|
|
|
|
133
|
|
|
161
|
|
|
510
|
|
|
470
|
|
Research and development
|
|
|
|
1,364
|
|
|
1,225
|
|
|
3,665
|
|
|
3,295
|
|
Selling and marketing
|
|
|
|
1,696
|
|
|
2,459
|
|
|
5,862
|
|
|
6,807
|
|
General and administrative
|
|
|
|
3,649
|
|
|
4,427
|
|
|
14,234
|
|
|
14,601
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,857
|
|
|
8,299
|
|
|
24,313
|
|
$
|
25,225
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Amortization of intangible assets:
|
|
|
Cost of products and licenses
|
|
|
|
5,800
|
|
|
7,154
|
|
|
18,754
|
|
$
|
20,570
|
|
Selling and marketing
|
|
|
|
3,093
|
|
|
3,184
|
|
|
9,336
|
|
|
9,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,893
|
|
|
10,338
|
|
|
28,090
|
|
|
29,639
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Other than temporary impairment*
|
|
|
Financial income, net
|
|
|
|
2,288
|
|
|
-
|
|
|
2,288
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4) Taxes on stock-based
|
|
|
compensation, amortization of
|
|
|
intangible assets and other than
|
|
|
temporary impairment
|
|
|
|
(3,849
|
)
|
|
(3,438
|
)
|
|
(11,867
|
)
|
|
(8,782
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Total, net
|
|
|
$
|
14,189
|
|
$
|
15,199
|
|
$
|
42,824
|
|
$
|
46,082
|
|
|
|
|
|
|
|
|
|
|
* Includes write-down of $2.3 million dollars, related to impairment of Lehman Brothers bonds in accordance with SFAS 115.
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(In thousands)
ASSETS
|
September 30,
2008
|
December 31,
2007
|
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
523,420
|
|
$
|
509,664
|
|
Marketable securities and deposits
|
|
|
|
281,023
|
|
|
332,355
|
|
Trade receivables, net
|
|
|
|
155,683
|
|
|
201,515
|
|
Other current assets
|
|
|
|
32,310
|
|
|
21,595
|
|
|
|
|
|
|
Total current assets
|
|
|
|
992,436
|
|
|
1,065,129
|
|
|
|
|
|
|
|
|
|
Long-term assets:
|
|
|
Marketable securities
|
|
|
|
596,801
|
|
|
399,490
|
|
Property, plant and equipment, net
|
|
|
|
57,212
|
|
|
56,947
|
|
Severance pay fund
|
|
|
|
12,910
|
|
|
9,302
|
|
Deferred income taxes, net
|
|
|
|
21,132
|
|
|
14,920
|
|
Intangible assets, net
|
|
|
|
132,044
|
|
|
160,133
|
|
Goodwill
|
|
|
|
664,602
|
|
|
664,910
|
|
Other assets
|
|
|
|
586
|
|
|
636
|
|
|
|
|
|
|
Total long-term assets
|
|
|
|
1,485,287
|
|
|
1,306,338
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
|
$
|
2,477,723
|
|
$
|
2,371,467
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
Deferred revenues
|
|
|
$
|
272,880
|
|
$
|
273,693
|
|
Trade payables and other accrued liabilities
|
|
|
|
88,109
|
|
|
116,406
|
|
|
|
|
|
|
Total current liabilities
|
|
|
|
360,989
|
|
|
390,099
|
|
|
|
|
|
|
|
|
|
Income tax accrual
|
|
|
|
107,862
|
|
|
78,545
|
|
Deferred tax liability, net
|
|
|
|
24,535
|
|
|
31,465
|
|
Accrued severance pay
|
|
|
|
18,406
|
|
|
14,403
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
|
511,792
|
|
|
514,512
|
|
|
|
|
|
|
|
|
|
Shareholders' equity:
|
|
|
Share capital
|
|
|
|
774
|
|
|
774
|
|
Additional paid-in capital
|
|
|
|
496,207
|
|
|
464,330
|
|
Treasury shares at cost
|
|
|
|
(1,043,969
|
)
|
|
(907,022
|
)
|
Accumulated other comprehensive income (loss)
|
|
|
|
(20,027
|
)
|
|
1,233
|
|
Retained earnings
|
|
|
|
2,532,946
|
|
|
2,297,640
|
|
|
|
|
|
|
Total shareholders' equity
|
|
|
|
1,965,931
|
|
|
1,856,955
|
|
|
|
|
|
|
Total liabilities and shareholders' equity
|
|
|
$
|
2,477,723
|
|
$
|
2,371,467
|
|
|
|
|
|
|
Total cash and cash equivalents and marketable
|
|
|
securities
|
|
|
$
|
1,401,244
|
|
$
|
1,241,509
|
|
|
|
|
|
|
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED CONSOLIDATED CASH FLOW DATA
(In thousands)
|
Three Months Ended
|
Nine Months Ended
|
|
September 30,
|
September 30,
|
|
2008
|
2007
|
2008
|
2007
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
Cash flow from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
$
|
80,061
|
|
$
|
76,738
|
|
$
|
237,492
|
|
$
|
193,147
|
|
Adjustments to reconcile net income to net cash provided by
|
|
|
operating activities:
|
|
|
|
|
|
Depreciation and amortization of property, plant and equipment
|
|
|
|
2,298
|
|
|
1,602
|
|
|
6,673
|
|
|
4,546
|
|
Other than temporary impairment
|
|
|
|
2,288
|
|
|
-
|
|
|
2,288
|
|
|
-
|
|
Decrease in trade and other receivables, net
|
|
|
|
1,729
|
|
|
3,214
|
|
|
38,513
|
|
|
43,845
|
|
|
|
|
Increase (decrease) in deferred revenues, trade payables and
|
|
|
other accrued liabilities
|
|
|
|
20,836
|
|
|
(3,878
|
)
|
|
25,380
|
|
|
(17,221
|
)
|
Acquisition of in process research and development
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
17,000
|
|
|
|
|
Amortization of intangible assets
|
|
|
|
8,893
|
|
|
10,338
|
|
|
28,090
|
|
|
29,639
|
|
Stock-based compensation
|
|
|
|
6,857
|
|
|
8,299
|
|
|
24,313
|
|
|
25,225
|
|
Excess tax benefit from stock-based compensation
|
|
|
|
(3,531
|
)
|
|
-
|
|
|
(9,560
|
)
|
|
-
|
|
Deferred income taxes, net
|
|
|
|
(4,338
|
)
|
|
(7,467
|
)
|
|
(12,661
|
)
|
|
(15,863
|
)
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
|
115,093
|
|
|
88,846
|
|
|
340,528
|
|
|
280,318
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from investing activities:
|
|
|
Cash paid in conjunction with the acquisition of Protect Data, net
|
|
|
|
-
|
|
|
(214
|
)
|
|
(9,042
|
)
|
|
(594,508
|
)
|
Investment in property, plant and equipment
|
|
|
|
(2,412
|
)
|
|
(2,652
|
)
|
|
(6,938
|
)
|
|
(12,638
|
)
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
|
(2,412
|
)
|
|
(2,866
|
)
|
|
(15,980
|
)
|
|
(607,146
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from financing activities:
|
|
|
Proceeds from issuance of shares upon exercise of options
|
|
|
|
11,504
|
|
|
7,954
|
|
|
27,276
|
|
|
22,889
|
|
Purchase of treasury shares
|
|
|
|
(49,825
|
)
|
|
(42,272
|
)
|
|
(172,825
|
)
|
|
(147,899
|
)
|
Excess tax benefit from stock-based compensation
|
|
|
|
3,531
|
|
|
-
|
|
|
9,560
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
|
(34,790
|
)
|
|
(34,318
|
)
|
|
(135,989
|
)
|
|
(125,010
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gain (loss) on marketable securities, net
|
|
|
|
(19,420
|
)
|
|
2,991
|
|
|
(28,824
|
)
|
|
6,729
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash and cash equivalents, deposits and
|
|
|
marketable securities
|
|
|
|
58,471
|
|
|
54,653
|
|
|
159,735
|
|
|
(445,109
|
)
|
|
|
|
Cash and cash equivalents, deposits and marketable securities
|
|
|
at the beginning of the period
|
|
|
|
1,342,773
|
|
|
1,150,176
|
|
|
1,241,509
|
|
|
1,649,938
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, deposits and marketable securities
|
|
|
at the end of the period
|
|
|
$
|
1,401,244
|
|
$
|
1,204,829
|
|
$
|
1,401,244
|
|
$
|
1,204,829
|
|
|
|
|
|
|
|
|
|
|
Signatures
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
|
|
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
By: /s/ Tal Payne
Tal Payne
Chief Financial Officer
|
October 28, 2008
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