Check Point cuts costs, boosts profits in third quarter

Check Point cuts costs, boosts profits in third quarter

Leading firewall and security vendor Check Point Software Technologies has announced profits of $US74.3 million for the third quarter of 2001, citing decreased costs and strong uptake of new products as driving the results.

The $74.3 million figure was up from the $61.6 million Check Point tallied in the third quarter of 2000.

Revenues for the quarter were $118 million, up from $116 million in 2000. Check Point also said that it has $944.2 million in cash and investments.

During the quarter, Check Point began shipping its Check Point NG product, the next generation of the company's security software; introduced Provider-1 NG, a software package targeted at carriers which allows them to manage multiple firewalls from a single console; and expanded the feature set of its OPSEC (open platform for security) framework.

The company also said that the September 11 terrorist attacks accounted for an estimated loss of between $15 million and $20 million for the quarter.

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