Data-security specialist Check Point Software Technologies (Nasdaq: CHKP) is bucking the trend today. On a gloomy market day with few bright spots, Check Point's second-quarter report stands out as a reason for optimism, sending shares up by nearly 3% even as direct competitors Allot Communications (Nasdaq: ALLT), Cisco Systems (Nasdaq: CSCO), and Fortinet (Nasdaq: FTNT) all followed the general market down. Check Point's gains are clearly seen as the company's own and not as a sign of better times for the sector as a whole.

Earnings of $0.68 per share on $301 million in revenue beat analyst expectations on both counts, albeit by small margins. Management credits the outperformance to strong sales of software-based security and system-control plugins for its line of hardware appliances.

Check Point's management doesn't like to claim wins over a struggling Cisco, because the networking giant's security sales tend to go straight into existing Cisco-based networks. There's not much overlap there. So pinning this strong quarter on Cisco's troubles would be a mistake.

No, Check Point is sniffing at 10-year highs because it makes best-of-breed security products and outsells the competition based on quality. This stock has rewarded Rule Breakers subscribers with a market-crushing 140% return in just over two years and looks likely to continue its 10-quarter streak of strong reports -- unless a larger competitor decides to buy it out first. Either way, shareholders win. You'd be wise to keep a close eye on this company, and we have just the tool to help you do it -- add Check Point to your Foolish watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. The Fool owns shares of and has created a bull call spread position on Cisco. Motley Fool newsletter services have recommended buying shares of Check Point and Cisco. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio, follow him on Twitter or Google+, or peruse our Foolish disclosure policy.