Check Point Software Q4 Results Top View, Expands Share Repurchase

(RTTNews) - Check Point Software Technologies Ltd. (CHKP) Thursday said fourth-quarter net income fell to $186 million from $194 million in the fourth quarter of 2013. Earnings per share were $0.98, compared to $0.99 last year.

Adjusted earnings per share was $1.07, while it totaled $0.98 per share last year. On average, 27 analysts polled by Thomson Reuters expected earnings of $1.05 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue improved 9 percent to $421 million from $387 million last year. Analysts expected revenues of $416.13 million.

Separately, the company said its board of directors has authorized an extension and expansion to the company's on-going share repurchase program. Under the updated plan, effective immediately, Check Point is authorized to increase the quarterly repurchase of its outstanding shares by 25 percent up to $250 million and the overall program by 50 percent to an aggregate of $1.5 billion.