Check Point Software Technology (NASDAQ: CHKP) reported Q4 EPS of $1.68, $0.05 better than the analyst estimate of $1.63. Revenue for the quarter came in at $526 million versus the consensus estimate of $517 million.

“We finished the year with record results. Our revenues were toward the top of our projections and non-GAAP EPS exceeded. Our Security Subscriptions Business continued to increase, driven by cloud, mobile and zero-day advanced threat prevention technologies. We expanded our cloud security offering with the delivery of CloudGuard SaaS solution, and the acquisition of Dome9 and ForceNock,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “We started 2019 with many new innovations including two new threat prevention optimized security appliances and the new Maestro product line that provides Cloud-type HyperScale technology to reach unprecedented levels of security.” Shwed concluded.

Financial Highlights Fourth Quarter of 2018:

• Total Revenues: $526 million compared to $506 million in the fourth quarter of 2017, a 4 percent increase year over year.
• GAAP Operating Income: $250 million compared to $267 million in the fourth quarter of 2017, representing 48 percent and 53 percent of revenues in the fourth quarter of 2018 and 2017, respectively.
• Non-GAAP Operating Income: $279 million compared to $292 million in the fourth quarter of 2017, representing 53 percent and 58 percent of revenues in the fourth quarter of 2018 and 2017, respectively.
• GAAP Taxes on Income: $29 million compared to $40 million in the fourth quarter of 2017.
• GAAP Net Income and Earnings per Diluted Share: GAAP net income was $238 million compared to $239 million in the fourth quarter of 2017. GAAP earnings per diluted share were $1.51 compared to $1.46 in the fourth quarter of 2017, a 4 percent increase year over year.
• Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $264 million compared to $259 million in the fourth quarter of 2017. Non-GAAP earnings per diluted share were $1.68 compared to $1.58 in the fourth quarter of 2017, a 6 percent increase year over year.
• Deferred Revenues: As of December 31, 2018, deferred revenues were $1,338 million compared to $1,187 million as of December 31, 2017, a 13 percent increase year over year.
• Cash Flow: Cash flow from operations of $249 million, which included a cost of $16 million related to the acquisition of Dome9, compared to $248 million in the fourth quarter of 2017.
• Cash Balances, Marketable Securities and Short Term Deposits: $4,039 million as of December 31, 2018, compared to $3,848 million as of December 31, 2017.
• Share Repurchase Program: During the fourth quarter of 2018, we purchased approximately 2.8 million shares at a total cost of approximately $305 million.

For earnings history and earnings-related data on Check Point Software Technology (CHKP) click here.