CHKP FY 2010 Earnings Report — Check Point Software Technologies Ltd. Revenue & Financial Results | Market Cap Arena

Check Point Software Technologies Ltd.CHKP

FY 2010 Earnings

Reported April 1, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$1.1B	—	$924M	—	18.8%
Op. Income	$535M	—	$415M	—	28.9%
Gross Margin	85.1%	—	85.6%	—	-0.5pp
Net Margin	41.2%	—	38.7%	—	2.6pp
EPS (Diluted)	$2.13	—	$1.68	—	26.8%
Free Cash Flow	$684M	—	$553M	—	23.7%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$164M
GROSS PROFIT	$934M
R&D Expenses	$106M
Selling & Marketing	$235M
General & Administrative	$57M
SG&A Expenses	$293M
Other Expenses	$0
Operating Expenses	$398M
Cost & Expenses	$562M
OPERATING INCOME	$535M
Interest Income	$29M
Interest Expense	$30M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$564M
Income Tax Expense	$112M
Net Income from Continuing Ops	$453M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$453M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$453M
D&A	$59M
EBIT	$572M
EBITDA	$623M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$164M
GROSS PROFIT	$934M
R&D Expenses	$106M
Selling & Marketing	$235M
General & Administrative	$57M
SG&A Expenses	$293M
Other Expenses	$0
Operating Expenses	$398M
Cost & Expenses	$562M
OPERATING INCOME	$535M
Interest Income	$29M
Interest Expense	$30M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$564M
Income Tax Expense	$112M
Net Income from Continuing Ops	$453M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$453M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$453M
D&A	$59M
EBIT	$572M
EBITDA	$623M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$453M
Depreciation & Amortization	$59M
Stock-Based Compensation	$35M
Deferred Income Tax	-$12M
Other Non-Cash Items	$9M
Change in Working Capital	$144M
OPERATING CASH FLOW	$689M
Capital Expenditure	-$5M
Acquisitions (Net)	-$14M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$650M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$459M
Net Debt Issuance	$0
Common Stock Repurchased	-$200M
Common Dividends Paid	$0
Other Financing Activities	$109M
NET CASH FROM FINANCING	-$91M
FREE CASH FLOW	$684M
Net Change in Cash	$138M

Balance Sheet

Item	Amount
Cash & Equivalents	$552M
Short-Term Investments	$538M
Net Receivables	$283M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$37M
Goodwill	$717M
Intangible Assets	$67M
Long-Term Investments	$1.3B
Tax Assets	$18M
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$3.6B
Account Payables	$10M
Short-Term Debt	$0
Deferred Revenue	$424M
Other Current Liabilities	$89M
TOTAL CURRENT LIABILITIES	$663M
Long-Term Debt	$0
Deferred Revenue NC	$40M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$181M
TOTAL NON-CURRENT LIABILITIES	$223M
TOTAL LIABILITIES	$886M
Common Stock	$774.0K
Additional Paid-In Capital	$580M
Retained Earnings	$3.4B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$0
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$0
Net Debt	-$552M