Check Point on prowl for deal

Friday, 10 January 2003, 12:34 PM EST

Flush with cash but facing a decline in revenue, Check Point Software Technologies Ltd. is prowling for acquisitions, say analysts who follow the computer security company.

Nitsan Hargil, chief financial analyst with Friedman Billings Ramsey, estimates Check Point's 2002 revenues at roughly $426 million, a sharp decline from year-earlier revenues of $528 million. The good news is that the company is expected to clear $300 million in profit for the year, which would lift its cash reserves to $1.3 billion.

To offset falling revenue, however, Hargil expects Check Point to make an acquisition within a few months. "They need to do something and quick," he said. "They're not going out of business they're still making $300 million in cash flow a year but with revenues down 20% they need to do something quickly."

[ Read more ]

Related items




Spotlight

Hackers indicted for stealing Apache helicopter training software

Posted on 1 October 2014.  |  Members of a computer hacking ring have been charged with breaking into computer networks of prominent technology companies and the US Army and stealing more than $100 million in intellectual property and other proprietary data.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  

DON'T
MISS

Wed, Oct 1st
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //