Check Point Software Q4 Profit Rises; Expands Share Buyback By Addl $2 Bln

(RTTNews) - Check Point Software Technologies Ltd. (CHKP), a provider of cyber security solutions, reported Monday that its fourth-quarter net income was $272 million, up from $238 million last year.

Earnings per share were $1.84, up 21 percent from $1.51 last year.

Adjusted net income was $299 million or $2.02 per share, compared to $264 million or $1.68 per share a year ago.

Total revenues grew 3 percent to $544 million from $526 million in the fourth quarter of 2018.

Separately, Check Point announced that its board of directors has authorized the expansion of its on-going share repurchase program by an additional $2 billion. Under the share repurchase program, as extended, Check Point is authorized to continue to repurchase up to $325 million each quarter.

As of December 31, 2019, Check Point has approximately 145.5 million ordinary shares outstanding.