Check Point Software 4Q profit slips 1.6 percent

Check Point Software Technologies Ltd. reported a slight fourth-quarter profit decline Tuesday that missed Wall Street estimates, though revenue rose for the Internet security software company.

Net income was $86.5 million, or 41 cents per share, down 1.6 percent from $87.9 million, or 39 cents per share, a year earlier. Excluding items, the company earned 50 cents per share in the most recent quarter.

Analysts surveyed by Thomson Reuters, on average, expected earnings per share to be 47 cents.

Revenue increased 5.3 percent to $217.6 million from $206.7 million a year ago.

The company, with U.S. headquarters in Redwood City, Calif., said its investments in emerging markets have begun to pay off with growth in Asia, eastern Europe, Latin America and the Middle East.

For all of 2008, net income rose more than 15 percent, to $324 million, or $1.50 per share, from $281 million, or $1.25 per share, the previous year. Excluding items, the company posted a profit of $1.78 per share last year. Wall Street had anticipated a profit of $1.76 per share for the year.

Revenue for 2008 increased 10.6 percent to $808.5 million from $730.9 million the previous year.

Shares of Checkpoint jumped $1.01, or 4.8 percent, to $22.05 in Tuesday morning trading.