Most companies of any repute strive to be the best in their industry, but of course only a very few ever manage to pull it off. Even for those who succeed, and security specialist Check Point Software (Nasdaq:CHKP) deserves to be on that list, it is not all parades and plaudits. The trouble for Check Point, as it often is for industry leaders, is the pressure to stay on top of the game and preserve both growth and margins. It's no easy task and the extent to which Check Point succeeds will determine how much is left in the stock.
Secure Second Quarter Results
Check Point had a respectable second quarter. Revenue rose 15% from last year (and about 7% sequentially) and that was enough to surpass the surprisingly tight range of analyst estimates. Growth was well-balanced between products and services, as both grew at about the same 15% clip. Billings growth was solid, but the small uptick in days sales outstanding would seem to suggest that more orders came later in the quarter than before - a development that does not seem so serious now, but bears watching.
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