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SAN CARLOS, CA -- (Marketwired) -- 10/21/13 -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), the worldwide leader in securing the Internet, today announced its financial results for the third quarter ended September 30, 2013.

• Total Revenue: $344.1 million, representing a 4 percent increase year over year
• Non-GAAP Operating Income: $ 200.8 million, representing 58 percent of revenues
• Non-GAAP EPS: $0.85, representing an 8 percent increase year over year
• Deferred Revenues: $566.8 million, representing a 12 percent increase year over year

"We are very pleased with our healthy third quarter results. Revenue and earnings per share for the quarter were toward the high-end of our projections, underscoring the strength of our business," said Gil Shwed, founder, chairman, and chief executive officer of Check Point Software Technologies. "The recently launched data center and small appliance families were received enthusiastically by our customers and posted another quarter of high growth."

Third Quarter 2013 Financial Highlights:

• Total Revenue: $344.1 million, an increase of 4 percent, compared to $332.4 million in the third quarter of 2012.
• GAAP Operating Income: $186.5 million, an increase of 2 percent, compared to $182.6 million in the third quarter of 2012. GAAP operating margin was 54 percent, compared to 55 percent in the third quarter of 2012.
• Non-GAAP Operating Income: $200.8 million, an increase of 3 percent, compared to $195.6 million in the third quarter of 2012. Non-GAAP operating margin was 58 percent, compared to 59 percent in the third quarter of 2012.
• GAAP Net Income and Earnings per Diluted Share: GAAP net income was $159.7 million, an increase of 5 percent, compared to $152.4 million in the third quarter of 2012. GAAP earnings per diluted share were $0.80, an increase of 10 percent, compared to $0.73 in the third quarter of 2012.
• Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $168.9 million, an increase of 3 percent, compared to $164.1 million in the third quarter of 2012. Non-GAAP earnings per diluted share were $0.85, an increase of 8 percent, compared to $0.79, in the third quarter of 2012.
• Deferred Revenues: As of September 30, 2013, we had deferred revenues of $566.8 million, an increase of 12 percent, compared to $505.9 million as of September 30, 2012.
• Cash Flow: Cash flow from operations was $195.5 million, an increase of 8%, compared to $180.4 million in the third quarter of 2012.
• Share Repurchase Program: During the third quarter of 2013, we repurchased 2.3 million shares at a total cost of $128.3 million.
• Cash Balances, Marketable Securities and Short Term Deposits: $3,664.3 million as of September 30, 2013, an increase of $417.5 million, compared to $3,246.8 million as of September 30, 2012.

For information regarding the Non-GAAP financial measures discussed in this release, please see "Use of Non-GAAP Financial Information" and "Reconciliation of GAAP to Non-GAAP Financial Information."

Business Highlights

During the quarter we released the latest version of Check Point's industry-leading Software Blades Architecture incorporating Threat Emulation to the platform. In addition, we expanded the breadth of our data center family of appliances:

Check Point Security Gateway R77 - Incorporates more than 50 product enhancements, including the new ThreatCloud Emulation Service, Check Point HyperSpect™ performance enhancing technology, and Check Point Compliance Software Blade. R77 enables customers to take advantage of our comprehensive security platform to attain high levels of security with a lower total cost of ownership.

Check Point Threat Emulation - Check Point Threat Emulation prevents infections from undiscovered exploits, zero-day and targeted attacks. This innovative solution quickly inspects files and runs them in a virtual sandbox across multiple OS versions to discover malicious behavior and prevent discovered malware from entering the network. Threat Emulation is available as a software blade or Private Cloud Emulation Appliance leveraging the ThreatCloud Emulation Service.

13500 Data Center Appliance Launch - The 13500 Appliance leverages Check Point HyperSpect™, which maximizes hardware utilization, and delivers 23.6 Gbps of real-life firewall throughput, 5.7 Gbps of real-life IPS throughput and 3,200 SecurityPower™ unit (SPU) rating.

Worldwide Industry Recognition:

Leader in Gartner's Magic Quadrant for Unified Threat Management - Check Point is positioned as a Leader in Gartner's Magic Quadrant for Unified Threat Management (UTM). The company has been in the Leaders quadrant for three consecutive years.

Leader in Gartner's Magic Quadrant for Mobile Data Protection - Check Point is positioned as a Leader in Gartner's Magic Quadrant for Mobile Data Protection (MDP). The company has been in the Leaders quadrant for seven consecutive years.

Top Position in Worldwide Combined Firewall and UTM Appliance Market - Check Point continued to be the number one vendor in worldwide combined Firewall and UTM appliance revenue for Q2 2013, according to the IDC Worldwide Quarterly Security Appliance Tracker Q2 2013.

Shwed concluded, "The introduction of Threat Emulation in R77 empowers organizations of all sizes to protect their networks from malicious documents utilized by the most sophisticated APT attacks. The leadership and innovation of our security solutions is recognized by the market research firms and embraced by our customers."

Fourth Quarter 2013 Investor Conference Participation Schedule:

• Wells Fargo Securities Media & Technology Conference
  November 12, 2013 - New York, NY
• RBS Global Technology Conference
  November 13, 2013 - New York, NY
• UBS Global Technology Conference
  November 20, 2013 - Sausalito, CA
• Credit Suisse Annual Technology Conference
  December 4, 2013 - Scottsdale, AZ
• Raymond James Supply Chain Conference
  December 9, 2013 - New York, NY

Members of Check Point's management team will present at these conferences and discuss the latest company strategies and initiatives. Check Point's conference presentations are expected to be available via webcast on the company's web site. To view these presentations and access the most updated information please visit the company's web site at www.checkpoint.com/ir. The schedule is subject to change.

Conference Call and Webcast Information
Check Point will host a conference call with the investment community on October 21, 2013 at 8:30 AM ET/5:30 AM PT. To listen to the live webcast, please visit the website at: www.checkpoint.com/ir. A replay of the conference call will be available through October 28, 2013 on the company's website or by telephone at +1.201.612.7415, replay ID number 422171.

About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com), the worldwide leader in securing the Internet, provides customers with uncompromised protection against all types of threats, reduces security complexity and lowers total cost of ownership. Check Point first pioneered the industry with FireWall-1 and its patented stateful inspection technology. Today, Check Point continues to develop new innovations based on the Software Blade Architecture, providing customers with flexible and simple solutions that can be fully customized to meet the exact security needs of any organization. Check Point is the only vendor to go beyond technology and define security as a business process. Check Point 3D Security uniquely combines policy, people and enforcement for greater protection of information assets and helps organizations implement a blueprint for security that aligns with business needs. Customers include tens of thousands of organizations of all sizes, including all Fortune and Global 100 companies. Check Point's award-winning ZoneAlarm solutions protect millions of consumers from hackers, spyware and identity theft.

©2013 Check Point Software Technologies Ltd. All rights reserved

Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of net income, operating income, operating margin and earnings per share, which are adjustments from results based on GAAP to exclude non-cash equity-based compensation charges, amortization of acquired intangible assets, gain on sale of marketable securities previously impaired or other than temporary impairment of marketable securities, net, and the related tax effects. Check Point's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Check Point's ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures in order to assist the investment community to see the Company "through the eyes of management," and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.

                   CHECK POINT SOFTWARE TECHNOLOGIES LTD.
                      CONSOLIDATED STATEMENT OF INCOME

                   (In thousands, except per share amounts)


                            Three Months Ended         Nine Months Ended
                         ------------------------  ------------------------
                               September 30,             September 30,
                         ------------------------  ------------------------
                             2013         2012         2013         2012
                         -----------  -----------  -----------  -----------
                          (unaudited   (unaudited   (unaudited   (unaudited
                               )            )            )            )
Revenues:
  Products and licenses  $   121,081  $   121,036  $   348,373  $   354,373
  Software updates,
   maintenance and
   subscription              223,046      211,320      658,656      619,748
                         -----------  -----------  -----------  -----------
Total revenues               344,127      332,356    1,007,029      974,121
                         -----------  -----------  -----------  -----------

Operating expenses:
  Cost of products and
   licenses                   21,727       20,606       61,492       60,881
    Cost of software
     updates,
     maintenance and
     subscription             18,342       17,380       54,395       50,164
  Amortization of
   technology                     60          294          552        3,688
                         -----------  -----------  -----------  -----------
Total cost of revenues        40,129       38,280      116,439      114,733

  Research and
   development                30,034       28,517       88,717       82,621
  Selling and marketing       68,783       64,501      201,093      189,415
  General and
   administrative             18,690       18,412       53,995       51,288
                         -----------  -----------  -----------  -----------
Total operating expenses     157,636      149,710      460,244      438,057
                         -----------  -----------  -----------  -----------

Operating income             186,491      182,646      546,785      536,064
Financial income, net          9,098       10,452       25,548       30,688
                         -----------  -----------  -----------  -----------
Income before taxes on
 income                      195,589      193,098      572,333      566,752
Taxes on income               35,888       40,691      113,664      120,738
                         -----------  -----------  -----------  -----------
Net income               $   159,701  $   152,407  $   458,669  $   446,014
                         ===========  ===========  ===========  ===========
Earnings per share
 (basic)                 $      0.82  $      0.75  $      2.33  $      2.17
                         ===========  ===========  ===========  ===========
Number of shares used in
 computing earnings per
 share (basic)               194,931      203,928      196,570      205,170
                         ===========  ===========  ===========  ===========
Earnings per share
 (diluted)               $      0.80  $      0.73  $      2.29  $      2.12
                         ===========  ===========  ===========  ===========
Number of shares used in
 computing earnings per
 share (diluted)             198,668      208,717      200,380      210,831
                         ===========  ===========  ===========  ===========



                   CHECK POINT SOFTWARE TECHNOLOGIES LTD.
          RECONCILIATION OF GAAP TO NON GAAP FINANCIAL INFORMATION

                  (In thousands, except per share amounts)

                            Three Months Ended         Nine Months Ended
                         ------------------------  ------------------------
                               September 30,             September 30,
                         ------------------------  ------------------------
                             2013         2012         2013         2012
                         -----------  -----------  -----------  -----------
                         (unaudited)  (unaudited)  (unaudited)  (unaudited)

GAAP operating income    $   186,491  $   182,646  $   546,785  $   536,064
Stock-based compensation
 (1)                          13,642       12,029       38,564       33,734
Amortization of
 intangible assets (2)           662          922        2,410        6,107
                         -----------  -----------  -----------  -----------
Non-GAAP operating
 income                  $   200,795  $   195,597  $   587,759  $   575,905
                         ===========  ===========  ===========  ===========

GAAP net income          $   159,701  $   152,407  $   458,669  $   446,014
Stock-based compensation
 (1)                          13,642       12,029       38,564       33,734
Amortization of
 intangible assets (2)           662          922        2,410        6,107
Taxes on the above items
 (3)                          (5,115)      (1,250)      (6,426)      (3,013)
                         -----------  -----------  -----------  -----------
Non-GAAP net income      $   168,890  $   164,108  $   493,217  $   482,842
                         ===========  ===========  ===========  ===========

GAAP Earnings per share
 (diluted)               $      0.80  $      0.73  $      2.29  $      2.12
Stock-based compensation
 (1)                            0.07         0.06         0.19         0.16
Amortization of
 intangible assets (2)             -         0.01         0.01         0.03
Taxes on the above items
 (3)                           (0.02)       (0.01)       (0.03)       (0.02)
                         -----------  -----------  -----------  -----------
Non-GAAP Earnings per
 share (diluted)         $      0.85  $      0.79  $      2.46  $      2.29
                         ===========  ===========  ===========  ===========

Number of shares used in
 computing Non-GAAP
 earnings per share
 (diluted)                   198,668      208,717      200,380      210,831
                         ===========  ===========  ===========  ===========

(1) Stock-based
 compensation:
Cost of products and
 licenses                $        19  $        12  $        60  $        50
Cost of software
 updates, maintenance
 and subscription                266          234          714          539
Research and development       2,108        1,951        6,897        6,504
Selling and marketing          3,201        2,445        8,773        7,272
General and
 administrative                8,048        7,387       22,120       19,369
                         -----------  -----------  -----------  -----------
                              13,642       12,029       38,564       33,734
                         -----------  -----------  -----------  -----------

(2) Amortization of
 intangible assets:
Amortization of
 technology-cost of
 revenues                         60          294          552        3,688
Selling and marketing            602          628        1,858        2,419
                         -----------  -----------  -----------  -----------
                                 662          922        2,410        6,107
                         -----------  -----------  -----------  -----------
(3) Taxes on the above
 items                        (5,115)      (1,250)      (6,426)      (3,013)
                         -----------  -----------  -----------  -----------
Total, net               $     9,189  $    11,701  $    34,548  $    36,828
                         ===========  ===========  ===========  ===========



                   CHECK POINT SOFTWARE TECHNOLOGIES LTD.
                  CONDENSED CONSOLIDATED BALANCE SHEET DATA

                               (In thousands)


                                   ASSETS


                                              September 30,   December 31,
                                                  2013            2012
                                             --------------  --------------
                                               (unaudited)      (audited)
Current assets:
Cash and cash equivalents                    $      221,082  $      574,802
Marketable securities and short-term
 deposits                                         1,039,364         928,535
Trade receivables, net                              256,665         373,755
Prepaid expenses and other current assets            58,487          47,827
                                             --------------  --------------
Total current assets                              1,575,598       1,924,919
                                             --------------  --------------

Long-term assets:
Marketable securities                             2,403,843       1,792,027
Property and equipment, net                          38,056          36,973
Severance pay fund                                    6,193           6,038
Deferred tax asset, net                              30,192          25,553
Other intangible assets, net                         16,801          19,211
Goodwill                                            727,875         727,875
Other assets                                         19,620          19,797
                                             --------------  --------------
Total long-term assets                            3,242,580       2,627,474
                                             --------------  --------------

Total assets                                 $    4,818,178  $    4,552,393
                                             ==============  ==============



                               LIABILITIES AND
                            SHAREHOLDERS' EQUITY

Current liabilities:
Deferred revenues                                  $   498,588  $   524,627
Trade payables and other accrued liabilities           442,887      346,568
                                                   -----------  -----------
Total current liabilities                              941,475      871,195
                                                   -----------  -----------

Long-term deferred revenues                             68,166       65,063
Income tax accrual                                     303,558      259,547
Deferred tax liability, net                              4,764            -
Accrued severance pay                                   10,712       10,279
                                                   -----------  -----------
                                                       387,200      334,889
                                                   -----------  -----------

                                                   -----------  -----------
Total liabilities                                    1,328,675    1,206,084
                                                   -----------  -----------

Shareholders' equity:
Share capital                                              774          774
Additional paid-in capital                             737,876      693,212
Treasury shares at cost                             (2,303,499)  (1,955,328)
Accumulated other comprehensive income                   2,636       14,606
Retained earnings                                    5,051,716    4,593,045
                                                   -----------  -----------
Total shareholders' equity                           3,489,503    3,346,309
                                                   -----------  -----------
Total liabilities and shareholders' equity         $ 4,818,178  $ 4,552,393
                                                   ===========  ===========
Total cash and cash equivalents, marketable
 securities and short-term deposits                $ 3,664,289  $ 3,295,364
                                                   ===========  ===========



                   CHECK POINT SOFTWARE TECHNOLOGIES LTD.
                    SELECTED CONSOLIDATED CASH FLOW DATA

                               (In thousands)


                          Three Months Ended          Nine Months Ended
                       ------------------------  --------------------------
                             September 30,              September 30,
                       ------------------------  --------------------------
                           2013         2012         2013          2012
                       -----------  -----------  ------------  ------------
                       (unaudited)  (unaudited)   (unaudited)   (unaudited)
Cash flow from
 operating activities:
Net income             $   159,701  $   152,407  $    458,669  $    446,014
Adjustments to
 reconcile net income
 to net cash provided
 by operating
 activities:
Depreciation of
 property and
 equipment                   2,205        2,228         6,302         6,010
Amortization of
 intangible assets             662          922         2,410         6,107
Stock-based
 compensation               13,642       12,029        38,564        33,734
Realized gain on
 marketable securities        (226)        (396)       (1,300)         (493)
Decrease in trade and
 other receivables,
 net                         7,595        9,359       112,846       115,219
Increase in deferred
 revenues, trade
 payables and other
 accrued liabilities        19,986        6,200       132,547         3,961
Excess tax benefit
 from stock-based
 compensation               (3,075)      (1,854)       (9,180)       (1,619)
Deferred income taxes,
 net                        (5,012)        (448)       (9,279)        4,374
                       -----------  -----------  ------------  ------------
Net cash provided by
 operating activities      195,478      180,447       731,579       613,307
                       -----------  -----------  ------------  ------------

Cash flow from
 investing activities:
Investment in property
 and equipment              (2,759)      (1,175)       (7,385)       (4,876)
                       -----------  -----------  ------------  ------------
Net cash used in
 investing activities       (2,759)      (1,175)       (7,385)       (4,876)
                       -----------  -----------  ------------  ------------

Cash flow from
 financing activities:
Proceeds from issuance
 of shares upon
 exercise of options        18,030       13,837        51,460        55,461
Purchase of treasury
 shares                   (128,276)    (156,059)     (402,710)     (306,058)
Excess tax benefit
 from stock-based
 compensation                3,075        1,854         9,180         1,619
                       -----------  -----------  ------------  ------------
Net cash used in
 financing activities     (107,171)    (140,368)     (342,070)     (248,978)
                       -----------  -----------  ------------  ------------

Unrealized gain (loss)
 on marketable
 securities, net             8,089        6,068       (13,199)        7,926
                       -----------  -----------  ------------  ------------

Increase in cash and
 cash equivalents,
 marketable securities
 and short term
 deposits                   93,637       44,972       368,925       367,379

Cash and cash
 equivalents,
 marketable securities
 and short term
 deposits at the
 beginning of the
 period                  3,570,652    3,201,812     3,295,364     2,879,405
                       -----------  -----------  ------------  ------------

Cash and cash
 equivalents,
 marketable securities
 and short term
 deposits at the end
 of the period         $ 3,664,289  $ 3,246,784  $  3,664,289    $3,246,784
                       ===========  ===========  ============  ============