Check Point breaks $200m barrier in Q2

Security vendor boosts top and bottom line and hails expanded portfolio following Nokia integration

Splashing the cash: Check Point has widened its portfolio through the acquisition of Nokia's security appliance business

Security vendor Check Point surged past the $200m (£121m) mark in 2009's second quarter after enjoying a healthy spike in sales and profits.

Revenue for the three months to the end of June was up 12 per cent year on year and 15 per cent sequentially to $223.6m. Operating profit based on generally accepted accounting principles (GAAP) was $86.7m, up four per cent on Q2 2008.

GAAP profit included amortization of intangible assets to the tune of $4.6m and a $9m restructuring charge. Both relate to the vendor's acquisition of Nokia's security appliance business, which was agreed towards the end of last year and completed in April.

Check Point had $362.1m of deferred revenue as of the end of June, a 30 per cent increase on last year. Cash flow from operations rose 37 per cent annually to $112.7m.

Check Point chief executive Gil Shwed claimed the extension of his firm's security hardware appliance portfolio had been a highlight of the quarter. He added that Check Point continued to commit resources to developing Nokia products and had welcomed 300 new staff since the buyout.

“I am proud of the record results we achieved this quarter," he said. " During my meetings with customers, I encountered a great deal of enthusiasm for our strategy that was primarily focused on our software blade architecture and expanded appliance portfolio. I would like to thank our partners and customers for their continued support of Check Point’s business.”