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REDWOOD CITY, Calif.,
April 4, 2002 - Check Point Software
Technologies Ltd. (Nasdaq: CHKP), the worldwide leader in securing
the Internet, today announced preliminary results for the first
quarter ended March 31, 2002. Revenues for the quarter are expected
to be $104-105 million with earnings per share (diluted) of $0.24-0.25.
The balance sheet is expected to be strong, with good cash flow.
"We experienced weaker than anticipated revenues in the first quarter
due to the continued depressed Information Technology (IT) spending
environment," said Gil Shwed, chairman and chief executive officer
of Check Point Software Technologies. "Check Point and our partners
continued to experience strong interest in all areas of our business.
However, in the enterprise market this increased level of activity
did not translate into our expected level of business in March,
as businesses continued to carefully control their spending. We
did make nice headway into our new market segments - the low end
market and the wireless infrastructure market, and shipped more
than 3,600 of our new S-box low end appliances" added Shwed.
"We are very proud of our
team's ability to generate strong earnings and quality results in
current times. While visibility remains low - we believe that the
high level of activity in the security and VPN markets and our leading
technologies, products, people and partners will enable Check Point
to expand its market leadership."
A conference call to discuss
these results will be held today at 8:45 AM ET / 5:45 AM PT. A live
webcast of the call will be available at www.checkpoint.com/ir.
A replay of the call will run through April 23 via webcast at
www.checkpoint.com/ir and telephone at (719) 457-0820, passcode
#799487.
Check Point Software will
report its first quarter financial results after the market closes
on April 23, 2002. A conference call to discuss these results will
be held the same day at 2:00 PM PT/5:00 PM ET. For more information,
please visit www.checkpoint.com/ir.
About Check Point Software
Technologies
Check Point Software Technologies is the worldwide leader in securing
the Internet. It is the confirmed market leader of both the worldwide
VPN and firewall markets. The company's Secure Virtual Network (SVN)
architecture provides the VPN and security infrastructure that uniquely
enables secure and reliable Internet communications. SVN solutions,
as delivered in the company's Next Generation product family, secure
business communications and resources for corporate networks, remote
employees, branch offices and partner extranets. Extending the power
of SVN is Check Point's Open Platform for Security (OPSEC), the
industry's framework and alliance for integration and interoperability
with "best-of-breed" solutions from over 300 leading companies.
Check Point solutions are sold, integrated and serviced by a network
of 2,000 certified partners in 203 countries. For more information,
please call us at (800) 429-4391 or (650) 628-2000 or visit us on
the Web at http://www.checkpoint.com
or at http://www.opsec.com.
Safe Harbor Statement
Certain statements in this press release, such as the expected results
for the first quarter, are forward-looking statements. Because such
statements deal with future events, they are subject to various
risks and uncertainties and actual results could differ materially
from Check Point's current expectations. Factors that could cause
or contribute to such differences include, but are not limited to:
the impact on revenues of economic and political uncertainties and
weaknesses in various regions of the world, including the commencement
or escalation of hostilities or acts of terrorism; the inclusion
of network security functionality in third-party hardware or system
software; any unforeseen developmental or technological difficulties
with regard to Check Point's products; changes in the competitive
landscape, including new competitors or the impact of competitive
pricing and products; a shift in demand for products such as Check
Point's; unknown factors affecting third parties with whom Check
Point has formed business alliances; timely availability and customer
acceptance of Check Point's new and existing products, and other
factors and risks discussed in Check Point's Report on Form 20-F
for the year ended December 31, 2001, which is on file with the
Securities and Exchange Commission. Check Point assumes no obligation
to update information concerning its expectations.
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2002 Check Point Software Technologies
Ltd. All rights reserved.
Check Point, the Check Point logo, FireWall-1, FireWall-1 SecureServer,
FireWall-1 SmallOffice, FloodGate-1, INSPECT, IQ Engine, Meta IP,
MultiGate, Open Security Extension, OPSEC, Provider-1, SecureKnowledge,
SecureUpdate, SiteManager-1, SVN, UAM, User-to-Address Mapping,
UserAuthority, Visual Policy Editor, VPN-1, VPN-1 Accelerator Card,
VPN-1 Gateway, VPN-1 SecureClient, VPN-1 SecuRemote, VPN-1 SecureServer,
VPN-1 SmallOffice, and ConnectControl are trademarks, service marks,
or registered trademarks of Check Point Software Technologies Ltd.
or its affiliates. All other product names mentioned herein are
trademarks or registered trademarks of their respective owners.
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