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SAN CARLOS, CA -- (Marketwire) -- 10/17/12 -- 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, 2012.

• Total Revenue: $332.4 million, representing an 8 percent increase year-over-year
• Non-GAAP Operating Income: $195.6 million, representing 59 percent of revenues
• Non-GAAP EPS: $0.79, representing a 10 percent increase year over year

"Third quarter results continued to be good with healthy growth in enterprise appliance units and software blade sales. Our revenues and earnings per share came in at the upper half of our projections," said Gil Shwed, founder, chairman, and chief executive officer of Check Point Software Technologies. "Geographically, North America continued to deliver great results with double digit growth in product and service revenues."

Financial Highlights:

• Total Revenue: $332.4 million, an increase of 8 percent, compared to $308.3 million in the third quarter of 2011.
• GAAP Operating Income: $182.6 million, an increase of 15 percent, compared to $158.2 million in the third quarter of 2011. GAAP operating margin was 55 percent, compared to 51 percent in the third quarter of 2011.
• Non-GAAP Operating Income: $195.6 million, an increase of 8 percent, compared to $180.7 million in the third quarter of 2011. Non-GAAP operating margin was 59 percent, the same as in the third quarter of 2011.
• GAAP Net Income and Earnings per Diluted Share: GAAP net income was $152.4 million, an increase of 14 percent, compared to $134.1 million in the third quarter of 2011. GAAP earnings per diluted share were $0.73, an increase of 16 percent, compared to $0.63 in the third quarter of 2011.
• Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $164.1 million, an increase of 7 percent, compared to $152.9 million in the third quarter of 2011. Non-GAAP earnings per diluted share were $0.79, an increase of 10 percent, compared to $0.72, in the third quarter of 2011.
• Deferred Revenues: As of September 30, 2012, we had deferred revenues of $505.9 million, an increase of 11 percent, compared to $454.5 million as of September 30, 2011.
• Cash Flow: Cash flow from operations was $180.4 million, an increase of 17%, compared to $154.5 million in the third quarter of 2011.
• Share Repurchase Program: During the third quarter of 2012, we repurchased 3.2 million shares at a total cost of $156.1 million.
• Cash Balances, Marketable Securities and Short Term Deposits: $3,246.8 million as of September 30, 2012, an increase of $470.3 million, compared to $2,776.5 million as of September 30, 2011.

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 announced the new Check Point Virtual Systems -- Latest solution for private cloud environments and data centers enabling the consolidation of up to 250 security gateways on a single hardware platform. Customers can now secure multiple network segments by selecting any combination of Check Point software blades, which are capable of simplifying security, reducing costs and boosting performance.

We've continued to receive industry recognition worldwide including:

Top Position in IDC Worldwide Combined Firewall and UTM Appliance Market -- Check Point is positioned as the number one vendor in worldwide combined Firewall and UTM appliance revenue for Q2 2012 according to the IDC Worldwide Q2 2012 Security Appliance Tracker.

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, 2012. The company is recognized for its ability to encrypt data and secure mobile endpoints.

NSS Labs "Recommended" Rating -- Check Point IPS Software Blade earned NSS Labs' coveted "Recommended" rating for the second year in a row.

Shwed concluded, "We are pleased with IDC's recognition of Check Point's number one position in security appliance sales this past quarter. We believe that with our appliances and software blades architecture we deliver the deepest and broadest security solutions available in the market."

Fourth Quarter 2012 Investor Conference Participation Schedule:

• Wells Fargo Securities Media & Technology Conference
  November 7, 2012 - New York, NY
• UBS Global Technology Conference
  November 15, 2012 - New York, NY
• Credit Suisse Annual Technology Conference
  November 27, 2012 - Scottsdale, AZ
• 29th Annual NASDAQ OMX Investor Program
  December 4, 2012 London, UK

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 17, 2012 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 24, 2012 on the company's website or by telephone at +1.201.612.7415, replay ID number 401438.

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.

©2012 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,
                     --------------------------- ---------------------------
                          2012          2011          2012          2011
                     ------------- ------------- ------------- -------------
                      (unaudited)   (unaudited)   (unaudited)   (unaudited)
Revenues:
  Products and
   licenses          $     121,036 $     120,700 $     354,373 $     345,246
  Software updates,
   maintenance and
   subscription            211,320       187,610       619,748       544,982
                     ------------- ------------- ------------- -------------
Total revenues             332,356       308,310       974,121       890,228
                     ------------- ------------- ------------- -------------

Operating expenses:
  Cost of products
   and licenses             20,606        18,760        60,881        55,395
  Cost of software
   updates,
   maintenance and
   subscription             17,380        16,066        50,164        45,986
  Amortization of
   technology                  294         7,849         3,688        23,548
                     ------------- ------------- ------------- -------------
Total cost of
 revenues                   38,280        42,675       114,733       124,929

  Research and
   development              28,517        28,063        82,621        83,230
  Selling and
   marketing                64,501        62,091       189,415       185,385
  General and
   administrative           18,412        17,297        51,288        47,120
                     ------------- ------------- ------------- -------------
Total operating
 expenses                  149,710       150,126       438,057       440,664
                     ------------- ------------- ------------- -------------

Operating income           182,646       158,184       536,064       449,564
Financial income,
 net                        10,452         9,638        30,688        30,998
                     ------------- ------------- ------------- -------------
Income before taxes
 on income                 193,098       167,822       566,752       480,562
Taxes on income             40,691        33,748       120,738        96,407
                     ------------- ------------- ------------- -------------
Net income           $     152,407 $     134,074 $     446,014 $     384,155
                     ============= ============= ============= =============
Earnings per share
 (basic)             $        0.75 $        0.65 $        2.17 $        1.85
                     ============= ============= ============= =============
Number of shares
 used in computing
 earnings per share
 (basic)                   203,928       206,311       205,170       207,199
                     ============= ============= ============= =============
Earnings per share
 (diluted)           $        0.73 $        0.63 $        2.12 $        1.79
                     ============= ============= ============= =============
Number of shares
 used in computing
 earnings per share
 (diluted)                 208,717       213,412       210,831       214,505
                     ============= ============= ============= =============


                   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,
                         ------------------------  ------------------------
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------
                         (unaudited)  (unaudited)  (unaudited)  (unaudited)

GAAP operating income    $   182,646  $   158,184  $   536,064  $   449,564
Stock-based compensation
 (1)                          12,029       11,495       33,734       29,640
Amortization of
 intangible assets (2)           922       11,013        6,107       33,076
                         -----------  -----------  -----------  -----------
Non-GAAP operating
 income                  $   195,597  $   180,692  $   575,905  $   512,280
                         ===========  ===========  ===========  ===========

GAAP net income          $   152,407  $   134,074  $   446,014  $   384,155
Stock-based compensation
 (1)                          12,029       11,495       33,734       29,640
Amortization of
 intangible assets (2)           922       11,013        6,107       33,076
Gain on sale of
 marketable securities
 previously impaired(3)            -            -            -       (2,017)
Taxes on the above items
 (4)                          (1,250)      (3,689)      (3,013)      (9,378)
                         -----------  -----------  -----------  -----------
Non-GAAP net income      $   164,108  $   152,893  $   482,842  $   435,476
                         ===========  ===========  ===========  ===========

GAAP Earnings per share
 (diluted)               $      0.73  $      0.63  $      2.12  $      1.79
Stock-based compensation
 (1)                            0.06         0.05         0.16         0.14
Amortization of
 intangible assets (2)          0.01         0.05         0.03         0.15
Gain on sale of
 marketable securities
 previously impaired(3)            -            -            -        (0.01)
Taxes on the above items
 (4)                           (0.01)       (0.01)       (0.02)       (0.04)
                         -----------  -----------  -----------  -----------
Non-GAAP Earnings per
 share (diluted)         $      0.79  $      0.72  $      2.29  $      2.03
                         ===========  ===========  ===========  ===========

Number of shares used in
 computing Non-GAAP
 earnings per share
 (diluted)                   208,717      213,412      210,831      214,505
                         ===========  ===========  ===========  ===========

(1) Stock-based
 compensation:
  Cost of products and
   licenses              $        12  $        11  $        50  $        41
  Cost of software
   updates, maintenance
   and subscription              234          235          539          680
  Research and
   development                 1,951        2,164        6,504        5,619
  Selling and marketing        2,445        2,328        7,272        5,909
  General and
   administrative              7,387        6,757       19,369       17,391
                         -----------  -----------  -----------  -----------
                         $    12,029  $    11,495  $    33,734  $    29,640
                         -----------  -----------  -----------  -----------

(2) Amortization of
 intangible assets:
  Amortization of
   technology-cost of
   revenues                      294        7,849        3,688       23,548
  Selling and marketing          628        3,164        2,419        9,528
                         -----------  -----------  -----------  -----------
                                 922       11,013        6,107       33,076
                         -----------  -----------  -----------  -----------
(3) Gain on Sale of
 marketable securities
 previously impaired               -            -            -       (2,017)
                         -----------  -----------  -----------  -----------

(4) Taxes on the above
 items                        (1,250)      (3,689)      (3,013)      (9,378)
                         -----------  -----------  -----------  -----------

Total, net               $    11,701  $    18,819  $    36,828  $    51,321
                         ===========  ===========  ===========  ===========


                   CHECK POINT SOFTWARE TECHNOLOGIES LTD.
                  CONDENSED CONSOLIDATED BALANCE SHEET DATA

                               (In thousands)

                                   ASSETS
                                                September 30,  December 31,
                                                    2012           2011
                                               -------------- --------------
                                                 (unaudited)     (audited)
Current assets:
Cash and cash equivalents                      $      330,391 $      493,546
Marketable securities and short-term deposits       1,119,878        865,994
Trade receivables, net                                240,911        357,418
Prepaid expenses and other current assets              50,266         53,045
                                               -------------- --------------
Total current assets                                1,741,446      1,770,003
                                               -------------- --------------

Long-term assets:
Marketable securities                               1,796,515      1,519,865
Property and equipment, net                            35,505         36,639
Severance pay fund                                      5,818          6,052
Deferred tax asset, net                                22,146         25,296
Other intangible assets, net                           20,132         26,239
Goodwill                                              727,875        727,875
Other assets                                           18,428         16,094
                                               -------------- --------------
Total long-term assets                              2,626,419      2,358,060
                                               -------------- --------------

Total assets                                   $    4,367,865 $    4,128,063
                                               ============== ==============

                              LIABILITIES AND
                            SHAREHOLDERS' EQUITY

Current liabilities:
Deferred revenues                              $     449,614  $     490,655
Trade payables and other accrued liabilities         301,300        271,815
                                               -------------  -------------
Total current liabilities                            750,914        762,470
                                               -------------  -------------

Long-term deferred revenues                           56,330         61,523
Income tax accrual                                   241,050        219,469
Deferred tax liability, net                                -          1,274
Accrued severance pay                                  9,987         10,236
                                               -------------  -------------
                                                     307,367        292,502

                                               -------------  -------------
Total liabilities                                  1,058,281      1,054,972
                                               -------------  -------------

Shareholders' equity:
Share capital                                            774            774
Additional paid-in capital                           674,195        630,508
Treasury shares at cost                           (1,802,819)    (1,543,886)
Accumulated other comprehensive income                18,375         12,650
Retained earnings                                  4,419,059      3,973,045
                                               -------------  -------------
Total shareholders' equity                         3,309,584      3,073,091
                                               -------------  -------------
Total liabilities and shareholders' equity     $   4,367,865  $   4,128,063
                                               =============  =============
Total cash and cash equivalents, marketable
 securities and short-term deposits            $   3,246,784  $   2,879,405
                                               =============  =============


                   CHECK POINT SOFTWARE TECHNOLOGIES LTD.
                    SELECTED CONSOLIDATED CASH FLOW DATA

                               (In thousands)

                            Three Months Ended         Nine Months Ended
                         ------------------------  ------------------------
                               September 30,             September 30,
                         ------------------------  ------------------------
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------
                         (unaudited)  (unaudited)  (unaudited)  (unaudited)
Cash flow from operating
 activities:
Net income               $   152,407  $   134,074  $   446,014  $   384,155
Adjustments to reconcile
 net income to net cash
 provided by operating
 activities:
Depreciation of property
 and equipment                 2,228        1,808        6,010        5,360
Amortization of
 intangible assets               922       11,013        6,107       33,076
Stock-based compensation      12,029       11,495       33,734       29,640
Realized gain on
 marketable securities          (396)           -         (493)      (2,481)
Decrease (increase) in
 trade and other
 receivables, net              9,359       (1,971)     115,219       77,936
Increase in deferred
 revenues, trade
 payables and other
 accrued liabilities           6,200        5,323        3,961       27,087
Excess tax benefit from
 stock-based
 compensation                 (1,854)      (2,660)      (1,619)      (4,748)
Deferred income taxes,
 net                            (448)      (4,549)       4,374       (8,378)
                         -----------  -----------  -----------  -----------
Net cash provided by
 operating activities        180,447      154,533      613,307      541,647
                         -----------  -----------  -----------  -----------

Cash flow from investing
 activities:
Cash paid in conjunction
 with acquisitions, net
 of acquired cash                  -          (55)           -       (6,556)
Investment in property
 and equipment                (1,175)      (1,989)      (4,876)      (5,473)
                         -----------  -----------  -----------  -----------
Net cash used in
 investing activities         (1,175)      (2,044)      (4,876)     (12,029)
                         -----------  -----------  -----------  -----------

Cash flow from financing
 activities:
Proceeds from issuance
 of shares upon exercise
 of options                   13,837       11,827       55,461       51,378
Purchase of treasury
 shares                     (156,059)     (75,000)    (306,058)    (225,000)
Excess tax benefit from
 stock-based
 compensation                  1,854        2,660        1,619        4,748
                         -----------  -----------  -----------  -----------
Net cash used in
 financing activities       (140,368)     (60,513)    (248,978)    (168,874)
                         -----------  -----------  -----------  -----------

Unrealized gain (loss)
 on marketable
 securities, net               6,068       (5,314)       7,926          780
                         -----------  -----------  -----------  -----------

Increase in cash and
 cash equivalents,
 marketable securities
 and short term deposits      44,972       86,662      367,379      361,524

Cash and cash
 equivalents, marketable
 securities and short
 term deposits at the
 beginning of the period   3,201,812    2,689,808    2,879,405    2,414,946
                         -----------  -----------  -----------  -----------

Cash and cash
 equivalents, marketable
 securities and short
 term deposits at the
 end of the period       $ 3,246,784  $ 2,776,470  $ 3,246,784  $ 2,776,470
                         ===========  ===========  ===========  ===========