Check Point 1st-quarter profit rises

Check Point Software Technologies Ltd., which makes Internet security products, said Monday adjusted first-quarter results beat analyst expectations, boosted by the stronger dollar and lower expenses.

Quarterly profit rose 3 percent to $80.9 million, or 38 cents per share, from $78.3 million, or 36 cents per share last year. Excluding one-time items related to stock-based compensation and amortization of intangible assets, net income totaled 45 cents per share.

Revenue edged up nearly 2 percent to $195 million from $191.6 million last year.

Analysts polled by Thomson Reuters, on average, expected a profit of 43 cents per share on revenue of $200 million. Analyst estimates typically exclude one-time items.

Operating expenses fell 9 percent to $102.7 million from $112.9 million last year.

"Our operational discipline continues to translate into increased profitability with non-GAAP operating margin of 56 percent and record cash flow from operations of $172 million," said Gil Shwed, company chairman and chief executive, in a statement.

In premarket trading, shares fell $1.43, or 5.7 percent, to $23.75.