Check Point Software (Nasdaq: CHKP) Falls On Mixed Q2 Guidance

Shawshank, VA 4/23/12 (StreetBeat) -- Shares of Check Point Software Technologies (Nasdaq:CHKP) tumbled more than 9% in morning trading Monday after the Internet security software maker posted better-than-expected first-quarter results but offered mixed guidance.

The Israel-based company said it earned 74 cents a share excluding items, up 16% from the year-earlier quarter and 2 cents better than forecasts. Revenue rose 11% to $313.1 million, edging analyst views for $312.8 million.

For the current quarter, based on the midpoint of its guidance, Check Point expects earnings per share of 76 cents, in line with expectations, on sales of $330 million, short of analysts' consensus of $333.7 million.

Q1 sales were driven by Check Point' company's latest network security appliances and continued strength of its annuity software blades, CEO Gil Shwed said in a statement.

Using generally accepted accounting principles, Check Point's net EPS rose 19% to 68 cents in the quarter.

"I am very pleased with our strong start to the 2012 calendar year," Shwed said. "Check Point delivered record first quarter results with good growth across all of our key financial metrics."

Check Point shares were down as much as 13.2% at the open Monday.

Three other recent highly rated security software stocks — Fortinet (Nasdaq:FTNT), Sourcefire(Nasdaq:FIRE) and Vasco Data Security International (Nasdaq:VDSI)— were down about 4% in morning trading Monday. Fortinet and Vasco report earnings later this week.

IBD's Internet Software-Security group ranks No. 7 out of 197 groups tracked.

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Sourcefire (Nasdaq: FIRE) Surges on First-Quarter Forecast

Tallahasee, FL 2/22/12 (StreetBeat) -- Sourcefire (Nasdaq: FIRE) Inc., a network-security company, rose as much as 16 percent in pre-market trading after demand for protection against cybercrime drove the company’s first-quarter revenue forecast above analysts’ estimates.

The Columbia, Maryland-based company predicted revenue of $40 million to $42 million, according to a statement released yesterday after the close of regular trading. That topped the $38.4 million average estimate of analysts surveyed by Bloomberg. Sourcefire also reported adjusted earnings of 25 cents a share for the 2011 fourth quarter, beating the average estimate of 19 cents.

“With our strong position and all the press given to the threats targeted at the federal government, it’s clear to us that our solutions are a funding priority,” Sourefire Chief Executive Officer John Burris said on a conference call yesterday.

Sourefire rose to $40.80 in pre-market trading at 8:28 a.m. in New York and had climbed as high as $41.50, compared with the close of $35.82 yesterday. The shares advanced 45 percent in the 12 months before today.

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