Check Point, Precise Outperform Estimates

RAMAT GAN, Israel — Internet security software developer Check Point Software announced upbeat results for the first quarter of 2001 on Tuesday.

The company’s performance beat expectations with a net income for the first quarter reaching $83.7 million, or $0.32 per share, a 140 percent increase.

Estimates had set net income at $0.29 per share.

Check Point revenues of $145 million, an increase of 86 percent over first quarter 2000.

On the downside, the results indicate a considerable slowing of growth compared to the previous quarter. Headquartered in Ramat Gan, Israel with offices in California, the company specializes in Virtual Private Networks.

Also on Tuesday, Precise Software Solutions reported results that bettered analyst estimates.

The company’s first quarter net income was $29,000, or $0.00 per share, compared to a net loss of $2.1 million, or $0.62 per share, in the first quarter of 2000. Analysts had expected a $0.04 loss per share for the company.

Precise’s revenues increased 155.6 percent to $11.5 million from the $4.5 million at the same period last year. Operating losses held steady at $2.1 million.

Based in Savyon, Israel, Precise develops performance management systems for corporate IT infrastructure.