FORM 6-K
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities
Exchange Act of 1934
For the month of October, 2006
Commission File Number 0-28584
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. |
| (Translation of registrant’s name into English) |
| 3A Jabotinsky Street, Ramat-Gan 52520, Israel |
| (Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection
with Rule 12g3-2(b): 82- ________
FOR IMMEDIATE RELEASE
| Media Contact: | Investor Contact: |
| Louis Cheng | Anne Marie McCauley |
| A&R Edelman | Check Point Software Technologies |
| 650.762.2814 | 650.628.2040 |
| lcheng@ar-edelman.com | ir@us.checkpoint.com |
CHECK
POINT SOFTWARE REPORTS FINANCIAL RESULTS FOR THE
THIRD QUARTER OF 2006
REDWOOD CITY, Calif., – October 19, 2006 – 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, 2006.
“During the third quarter, we delivered solid financial performance,” said Gil Shwed, chairman and chief executive officer of Check Point Software. “These results were driven by strong adoption of our new UTM offerings, successful implementation of enhanced service initiatives and continued execution from our partners and employees.”
| Financial Highlights for the Third Quarter of 2006: |
| — | Total Revenues: $142.5 million, an increase of 3 percent compared to $138.9 million in the second quarter of 2006 and an increase of 1 percent compared to $141.1 million in the third quarter of 2005. |
| — | Earnings per Diluted Share – GAAP: $0.31, an increase of 15 percent compared to $0.27 in the second quarter of 2006 and the same when compared to $0.31 in the third quarter of 2005. Equity based compensation expenses of $0.03 are included in the third quarter of 2006 GAAP results pursuant to SFAS 123(R). |
| — | Earnings per Diluted Share – Non GAAP: $0.34, an increase of 6 percent compared to $0.32 in the second quarter of 2006 and in the third quarter of 2005. Non-GAAP EPS excludes equity based compensation expenses and acquisition related charges1. |
| — | Net Income – GAAP: $71.1 million, an increase of 8 percent compared to $65.7 million in the second quarter of 2006 and a decrease of 10 percent compared to $78.7 million in the third quarter of 2005. Net income in the third quarter of 2006 includes equity based compensation expenses in the amount of $6.5 million. Equity based compensation expenses have been reported since the beginning of 2006pursuant to SFAS 123(R). In the third quarter of 2005, the equity based compensation expenses of $0.8 million relate to prior acquisitions. |
1 “Equity based compensation expenses” refer to the amortized fair value of all equity based awards granted to employees. “Acquisition related charges” refer to the impact of the amortization of intangible assets and other acquisition related expenses.
| — | Net Income – Non GAAP: $78.6 million, an increase of 3 percent compared to $76.0 million in the second quarter of 2006 and a decrease of 2 percent compared to $80.5 million in the third quarter of 2005. Non-GAAP net income excludes equity based compensation expenses and acquisition related charges. |
| — | Deferred Revenues: $173.4 million, a decrease of $3.1 million or 2 percent compared to deferred revenues as of June 30, 2006 and an increase of $29.1 million or 20 percent compared to deferred revenues as of September 30, 2005. |
| — | Cash Flow: cash flow from operations was $75.4 million, a decrease of 10 percent compared to the third quarter of 2005. |
| — | Share Repurchase Program: during the third quarter of 2006, Check Point repurchased 11.5 million shares at a total cost of $201.4 million. |
See “Use of Non-GAAP Financial Information” and “Reconciliation of Supplemental Financial Information” below for more information regarding Check Point’s use of non-GAAP measures.
Recent Business Highlights Include:
| — | Collaborated with Intel on Developing High Performance Security – announced a performance breakthrough for security software in demanding network security environments. Working together, the Dual-Core Intel Xeon Processors 5100 BIOS was modified to deliver optimized performance for our security solutions. Using an open server approach allows customers the flexibility of software with the high-performance of hardware at a leading price-performance ratio. |
| — | Achieved Prominent EAL 4 U.S. Government Certification – certified for all four critical network security categories – firewall, VPN, IDS/IPS and remote management. Check Point products meet and exceed the stringent requirements established by government standards, government approval processes and security industry tests. With this certification, Check Point is the only security company to offer government agencies a certified unified security architecture in these four critical network security categories. |
| — | Hosted Check Point Experience Event for Partners and Users in Asia Pacific –held annual partner and user event in Asia Pacific which included technical and business discussions and product demonstrations to improve technical know-how and expertise of attendees. |
Mr. Shwed continued, “During the quarter we had a number of strategic and architecture-focused wins with major customers from around the world, validating our continued efforts of developing our unified security architecture.”
Conference Call and
Webcast Information
Check Point will host a conference
call with the investment community on October 19, 2006 at 8:30 AM ET/5:30 AM PT. To listen
to the live webcast, please visit Check Point’s website at
http://www.checkpoint.com/ir. A replay of the conference call will be available
through November 2, 2006 at the company’s website http://www.checkpoint.com/ir
or by telephone at (973) 341-3080, pass code 7947206.
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 operating income, net income and earnings per share, which are
adjustments from results based on GAAP to exclude non-cash equity based compensation
charges in accordance with SFAS 123(R) in 2006 and APB 25 in 2005 and acquisition related
charges, as well as taxes on amortization of intangible assets and acquisition related
expenses. 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 on-going core operations and prospects for the future. 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. Management uses both GAAP and
non-GAAP information in evaluating and operating business internally and such as deemed it
important to provide all this information to investors.
Safe Harbor Statement
Certain statements in this press
release are forward-looking statements. Forward-looking statements include statements
regarding Check Point’s expectations regarding continued efforts to develop a
unified security architecture and execution on business objectives. Because these
statements pertain to future events they are subject to various risks and uncertainties,
and actual results could differ materially from Check Point’s current expectations
and beliefs. Factors that could cause or contribute to such differences include, but
are not limited to: general market conditions in the company’s industry; economic and
political uncertainties; the impact of political changes and weaknesses in various regions
of the world, including hostilities or acts of terrorism in Israel,
where Check Point’s international headquarters are based; inclusion of network
security functionality in third-party hardware or system software; any foreseen and
unforeseen developmental or technological difficulties with regard to Check Point’s
products; changes in the competitive landscape, including new competitors or the impact of
competitive pricing and products; rapid technological advances and changes in customer
requirements to which Check Point is unable to respond expeditiously, if at all; a shift
in demand for products such as Check Point’s; factors affecting third parties with
which Check Point has formed business alliances; timely availability and customer
acceptance of Check Point’s new and existing products; the amount of equity based
compensation charges and other factors and risks discussed in Check Point’s Annual
Report on Form 20-F for the year ended December 31, 2005, which is on file with the
Securities and Exchange Commission. Check Point assumes no obligation to update
information concerning its expectations.
About Check Point
Software Technologies Ltd.
Check Point Software Technologies
Ltd. (www.checkpoint.com) is a leader in securing the Internet. It is a market leader in
the worldwide enterprise firewall, personal firewall and VPN markets. Through its NGX
platform, the company delivers a unified security architecture for a broad range of
perimeter, internal, Web, and endpoint security solutions that protect business
communications and resources for corporate networks and applications, remote employees,
branch offices and partner extranets. The company’s ZoneAlarm product line is the
highest rated personal computer security suite, comprised of award-winning endpoint
security solutions that protect millions of PCs from hackers, spyware and data theft.
Extending the power of the Check Point solution is its Open Platform for Security (OPSEC),
the industry’s framework and alliance for integration and interoperability with
“best-of-breed” solutions from hundreds of leading companies. Check Point
solutions are sold, integrated and serviced by a network of thousands of Check Point
partners from around the world and its customers include 100 percent of Fortune 100
companies and tens of thousands of businesses and organizations of all sizes.
©2003-2006 Check Point Software Technologies Ltd. All rights reserved. Check Point, Application Intelligence, Check Point Express, Check Point Express CI, the Check Point logo, AlertAdvisor, ClusterXL, ConnectControl, Connectra, Cooperative Enforcement, Cooperative Security Alliance, CoSa, DefenseNet, Eventia Suite, Eventia, Eventia Analyzer, Eventia Reporter, FireWall-1, FireWall-1 GX, FireWall-1 SecureServer, FloodGate-1, Hacker ID, IMsecure, INSPECT, INSPECT XL, Integrity, Integrity SecureClient, Integrity Clientless Security, InterSpect, IQ Engine, NG, NGX, Open Security Extension, OPSEC, OSFirewall, Policy Lifecycle Management, Provider-1, Safe@Office, SecureClient, SecureKnowledge, SecuRemote, SecurePlatform, SecurePlatform Pro, SecureServer, SecureUpdate, SecureXL, SecureXL Turbocard, SiteManager-1, SmartCenter, SmartCenter Express, SmartCenter Power, SmartCenter Pro, SmartCenter UTM, SmartConsole, SmartDashboard, SmartDefense, SmartDefense Advisor, Smarter Security, SmartLSM, SmartMap, SmartPortal, SmartUpdate, SmartView, SmartView Monitor, SmartView Reporter, SmartView Status, SmartViewTracker, SofaWare, SSL Network Extender, Stateful Clustering, TrueVector, Turbocard, UAM, UserAuthority, User-to-Address Mapping, VPN-1, VPN-1 Accelerator Card, VPN-1 Edge, VPN-1 Express, VPN-1 Express CI, VPN-1 Power, VPN-1 Power VSX, VPN-1 Pro, VPN-1 SecureClient, VPN-1 SecuRemote, VPN-1 SecureServer, VPN-1 UTM, VPN-1 UTM Edge, VPN-1 VSX, Web Intelligence, ZoneAlarm, ZoneAlarm Anti-Spyware, ZoneAlarm Antivirus, ZoneAlarm Internet Security Suite, ZoneAlarm Pro, Zone Labs, and the Zone Labs logo are trademarks or registered trademarks of Check Point Software Technologies Ltd. or its affiliates. All other product names mentioned herein are trademarks or registered trademarks of their respective owners. The products described in this document are protected by U.S. Patent No. 5,606,668, 5,835,726, 6,496,935, 6,873,988, and 6,850,943 and may be protected by other U.S. Patents, foreign patents, or pending applications.
CHECK POINT SOFTWARE
TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share amounts)
| Three Months Ended |
Nine Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, |
June 30, |
September 30, |
September 30, | ||||||||||||||
| 2006 |
2006 |
2005 |
2006 |
2005 | |||||||||||||
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||
| Revenues: | |||||||||||||||||
| Products and licenses | $ | 58,787 | $ | 58,492 | $ | 65,616 | $ | 172,098 | $ | 202,386 | |||||||
| Software subscriptions | 64,517 | 63,550 | 60,395 | 190,594 | 177,734 | ||||||||||||
| Services | 19,214 | 16,894 | 15,057 | 52,354 | 43,172 | ||||||||||||
| Total revenues | 142,518 | 138,936 | 141,068 | 415,046 | 423,292 | ||||||||||||
| Operating expenses: | |||||||||||||||||
| Cost of revenues | 8,064 | 7,534 | 6,447 | 22,311 | 18,669 | ||||||||||||
| Research and development | 14,266 | 15,911 | 12,733 | 46,460 | 38,091 | ||||||||||||
| Selling and marketing | 37,862 | 39,565 | 33,403 | 113,639 | 105,508 | ||||||||||||
| General and administrative | 10,383 | 10,393 | 6,009 | 32,010 | 18,420 | ||||||||||||
| Amortization of intangible assets and acquisition related expenses | 1,504 | 1,505 | 1,411 | 5,441 | 4,233 | ||||||||||||
| Total operating expenses | 72,079 | 74,908 | 60,003 | 219,861 | 184,921 | ||||||||||||
| Operating income | 70,439 | 64,028 | 81,065 | 195,185 | 238,371 | ||||||||||||
| Financial income, net | 15,595 | 16,218 | 14,321 | 47,321 | 40,190 | ||||||||||||
| Income before income taxes | 86,034 | 80,246 | 95,386 | 242,506 | 278,561 | ||||||||||||
| Taxes on income | 14,897 | 14,530 | 16,642 | 44,020 | 48,114 | ||||||||||||
| Net income | $ | 71,137 | $ | 65,716 | $ | 78,744 | $ | 198,486 | $ | 230,447 | |||||||
| Earnings per share (basic) | $ | 0.31 | $ | 0.27 | $ | 0.32 | $ | 0.83 | $ | 0.94 | |||||||
| Number of shares used in computing | |||||||||||||||||
| earnings per share (basic) | 231,008 | 240,982 | 244,261 | 238,458 | 245,820 | ||||||||||||
| Earnings per share (diluted) | $ | 0.31 | $ | 0.27 | $ | 0.31 | $ | 0.83 | $ | 0.91 | |||||||
| Number of shares used in computing | |||||||||||||||||
| earnings per share (diluted) | 231,656 | 240,982 | 250,075 | 239,327 | 252,801 | ||||||||||||
CHECK POINT SOFTWARE
TECHNOLOGIES LTD.
RECONCILIATION OF SUPPLEMENTAL FINANCIAL INFORMATION
(In thousands, except per share amounts)
| Three Months Ended |
Nine Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, |
June 30, |
September 30, |
September 30, |
September 30, | |||||||||||||
| 2006 |
2006 |
2005 |
2006 |
2005 | |||||||||||||
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||
| GAAP operating income | $ | 70,439 | $ | 64,028 | $ | 81,065 | $ | 195,185 | $ | 238,371 | |||||||
| Stock-based compensation (1) | 6,473 | 9,315 | 837 | 27,388 | 2,993 | ||||||||||||
| Amortization of intangible | |||||||||||||||||
| assets and acquisition related | |||||||||||||||||
| expenses (2) | 1,504 | 1,505 | 1,411 | 5,441 | 4,233 | ||||||||||||
| Non-GAAP operating income | $ | 78,416 | $ | 74,848 | $ | 83,313 | $ | 228,014 | $ | 245,597 | |||||||
| GAAP net income | $ | 71,137 | $ | 65,716 | $ | 78,744 | $ | 198,486 | $ | 230,447 | |||||||
| Stock-based compensation (1) | 6,473 | 9,315 | 837 | 27,388 | 2,993 | ||||||||||||
| Amortization of intangible | |||||||||||||||||
| assets and acquisition related | |||||||||||||||||
| expenses (2) | 1,504 | 1,505 | 1,411 | 5,441 | 4,233 | ||||||||||||
| Taxes on amortization of | |||||||||||||||||
| intangible assets and | |||||||||||||||||
| acquisition related expenses (3) | (542 | ) | (542 | ) | (542 | ) | (1,625 | ) | (1,625 | ) | |||||||
| Non-GAAP net income | $ | 78,572 | $ | 75,994 | $ | 80,450 | $ | 229,690 | $ | 236,048 | |||||||
| GAAP Earnings per share (diluted) | $ | 0.31 | $ | 0.27 | $ | 0.31 | $ | 0.83 | $ | 0.91 | |||||||
| Stock-based compensation (1) | 0.03 | 0.04 | 0.00 | 0.11 | 0.01 | ||||||||||||
| Amortization of intangible | |||||||||||||||||
| assets and acquisition related | |||||||||||||||||
| expenses (2) | 0.00 | 0.01 | 0.01 | 0.02 | 0.02 | ||||||||||||
| Taxes on amortization of | |||||||||||||||||
| intangible assets and | |||||||||||||||||
| acquisition related expenses (3) | 0.00 | 0.00 | 0.00 | 0.00 | (0.01 | ) | |||||||||||
| Non-GAAP Earnings per share | |||||||||||||||||
| (diluted) | $ | 0.34 | $ | 0.32 | $ | 0.32 | $ | 0.96 | $ | 0.93 | |||||||
| Number of shares used in | |||||||||||||||||
| computing Non-GAAP earnings per | |||||||||||||||||
| share (diluted) | 231,656 | 240,982 | 250,075 | 239,327 | 252,801 | ||||||||||||
| (1) Stock-based compensation: | |||||||||||||||||
| Cost of revenues | $ | 88 | $ | 59 | $ | 130 | $ | 257 | $ | 295 | |||||||
| Research and development | 909 | 2,968 | 292 | 7,426 | 994 | ||||||||||||
| Selling and marketing | 966 | 2,197 | 357 | 5,782 | 1,496 | ||||||||||||
| General and administrative | 4,510 | 4,091 | 58 | 13,923 | 208 | ||||||||||||
| Total | $ | 6,473 | $ | 9,315 | $ | 837 | $ | 27,388 | $ | 2,993 | |||||||
| (2 & 3) Amortization of | |||||||||||||||||
| intangible assets and | |||||||||||||||||
| acquisition related expenses: | |||||||||||||||||
| Cost of revenues | $ | 1,353 | $ | 1,354 | $ | 1,354 | $ | 4,061 | $ | 4,062 | |||||||
| Selling and marketing | 151 | 151 | 57 | 453 | 171 | ||||||||||||
| General and administrative | - | - | - | 927 | - | ||||||||||||
| (2) Subtotal before taxes | 1,504 | 1,505 | 1,411 | 5,441 | 4,233 | ||||||||||||
| (3) Taxes on income | (542 | ) | (542 | ) | (542 | ) | (1,625 | ) | (1,625 | ) | |||||||
| Total | $ | 962 | $ | 963 | $ | 869 | $ | 3,816 | $ | 2,608 | |||||||
CHECK POINT SOFTWARE
TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(In thousands)
ASSETS
| September 30, 2006 |
December 31, 2005 | |||||||
|---|---|---|---|---|---|---|---|---|
| (unaudited) | (unaudited) | |||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 205,180 | $ | 298,531 | ||||
| Marketable securities and deposits | 984,809 | 1,044,312 | ||||||
| Trade receivables, net | 92,316 | 127,129 | ||||||
| Other receivables and prepaid expenses | 18,142 | 20,646 | ||||||
| Total current assets | 1,300,447 | 1,490,618 | ||||||
| Long-term assets: | ||||||||
| Long-term investments | 422,061 | 382,500 | ||||||
| Property and equipment, net | 45,334 | 7,665 | ||||||
| Intangible assets, net | 15,701 | 20,215 | ||||||
| Goodwill | 174,295 | 174,295 | ||||||
| Deferred income taxes, net | 953 | 8,694 | ||||||
| Other assets | 891 | 875 | ||||||
| Total long-term assets | 659,235 | 594,244 | ||||||
| Total assets | $ | 1,959,682 | $ | 2,084,862 | ||||
| LIABILITIES AND | ||||||||
| SHAREHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Deferred revenues | $ | 173,406 | $ | 168,998 | ||||
| Trade payables and other accrued liabilities | 136,289 | 136,872 | ||||||
| Total current liabilities | 309,695 | 305,870 | ||||||
| Accrued severance pay, net | 4,099 | 3,271 | ||||||
| Total liabilities | 313,794 | 309,141 | ||||||
| Shareholders' equity: | ||||||||
| Share capital | 774 | 774 | ||||||
| Additional paid-in capital | 411,217 | 386,529 | ||||||
| Deferred stock-based compensation | - | (2,831 | ) | |||||
| Treasury shares at cost | (703,372 | ) | (380,834 | ) | ||||
| Accumulated other comprehensive loss | (7,670 | ) | (8,952 | ) | ||||
| Retained earnings | 1,944,939 | 1,781,035 | ||||||
| Total shareholders' equity | 1,645,888 | 1,775,721 | ||||||
| Total liabilities and shareholders' equity | $ | 1,959,682 | $ | 2,084,862 | ||||
| Total cash and cash equivalents, deposits and | ||||||||
| marketable securities | 1,612,050 | 1,725,343 | ||||||
CHECK POINT SOFTWARE TECHNOLOGIES
LTD.
SELECTED CONSOLIDATED CASH FLOW DATA
(In thousands)
| Three Months Ended |
Nine Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, |
September 30, | |||||||||||||
| 2006 |
2005 |
2006 |
2005 | |||||||||||
| (unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||
| Cash flow from operating activities: | ||||||||||||||
| Net income | $ | 71,137 | $ | 78,744 | $ | 198,486 | $ | 230,447 | ||||||
| Adjustments to reconcile net income to net cash provided by | ||||||||||||||
| operating activities: | ||||||||||||||
| Depreciation and amortization | 1,501 | 1,356 | 4,246 | 3,981 | ||||||||||
| Decrease (increase) in trade and other receivables, net | (5,598 | ) | 9,642 | 37,286 | 13,328 | |||||||||
| Increase (decrease) in trade payables and other accrued | ||||||||||||||
| liabilities | (1,479 | ) | (12,323 | ) | 4,654 | 933 | ||||||||
| Amortization of intangible assets | 1,504 | 1,411 | 4,514 | 4,233 | ||||||||||
| Stock-based compensation | 6,473 | 837 | 27,388 | 2,993 | ||||||||||
| Tax benefit related to exercise of stock options | - | 1,414 | - | 5,797 | ||||||||||
| Other adjustments | 1,827 | 2,396 | 3,980 | 3,727 | ||||||||||
| Net cash provided by operating activities | 75,365 | 83,477 | 280,554 | 265,439 | ||||||||||
| Cash flow from investing activities: | ||||||||||||||
| Investment in property and equipment | (1,905 | ) | (1,301 | ) | (41,915 | ) | (3,481 | ) | ||||||
| Net cash used in investing activities | (1,905 | ) | (1,301 | ) | (41,915 | ) | (3,481 | ) | ||||||
| Cash flow from financing activities: | ||||||||||||||
| Proceeds from issuance of shares upon exercise of options | 6,111 | 22,908 | 46,559 | 43,005 | ||||||||||
| Purchase of treasury shares | (201,440 | ) | (57,192 | ) | (403,798 | ) | (209,463 | ) | ||||||
| Tax benefit related to exercise of stock options | - | - | 3,450 | - | ||||||||||
| Net cash used in financing activities | (195,329 | ) | (34,284 | ) | (353,789 | ) | (166,458 | ) | ||||||
| Unrealized gain on marketable securities, net | 7,852 | - | 1,857 | - | ||||||||||
| Increase (decrease) in cash and cash equivalents, deposits and | ||||||||||||||
| marketable securities | (114,017 | ) | 47,892 | (113,293 | ) | 95,500 | ||||||||
| Cash and cash equivalents, deposits and marketable securities | ||||||||||||||
| at the beginning of the period | 1,726,067 | 1,624,899 | 1,725,343 | 1,577,291 | ||||||||||
| Cash and cash equivalents, deposits and marketable securities | ||||||||||||||
| at the end of the period | 1,612,050 | 1,672,791 | 1,612,050 | 1,672,791 | ||||||||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. By: /s/ Eyal Desheh —————————————— Eyal Desheh Executive Vice President & Chief Financial Officer |
October 19, 2006