Israeli security firm Check Point has announced record financial results for Q4 2011 and the financial year as a whole.
CEO Gil Shwed said the increasing number and sophistication of cyber attacks helped Check Point to record revenue of $356.7m, up 12% from 318.5m a year ago. That helped push net income up 16%, rising from $137.4m a year ago to $159.8m this quarter.
"The fourth quarter provided a great finish to an excellent year with revenues and earnings reaching all time highs, and exceeding our initial projections for the year," commented Shwed. "We experienced exceptional performance across all key business metrics: products, annuity software blades and services."
Shwed added that the release of new software blades during the quarter helped the company’s impressive performance. "In the fourth quarter, we delivered a newly upgraded appliance product line that included our latest super-highend 61000 systems," he added. "We are very pleased with the acceptance and enthusiasm surrounding our new products and technologies in the marketplace."
And after breaking through the billion dollar barrier in 2010 the company improved on that for financial year 2011. Total revenue came in at $1.25bn, up 14% from $1.09bn in 2010. Profit also rose, climbing from $452.8m to $543.9m this year.
"We had a terrific year in 2011 with the introduction of new technologies and record financial results. As cyber-attacks and security risks reach new levels of sophistication, customer expectations for their security infrastructure also increase," said Shwed.
You can read CBR’s cover feature on Check Point CEO Gil Shwed here.
