Check Point Posts Higher 3Q Earnings

The company earned $76.7 million, or 34 cents per share, up 8 percent from $71.1 million, or 31 cents per share, in the same period a year ago.

Excluding stock options costs and the amortization of intangible assets, the company earned 41 cents per share in the latest quarter.

Revenue rose 29 percent to $184 million from $142.5 million.

Analysts, on average, expected profit of 38 cents per share on revenue of $178.8 million, according to a poll by Thomson Financial.

Total operating expenses rose 47.5 per cent to $106.4 million. Cost of products and licenses more than doubled at $8.5 million.

The company said a focus on security products drove results.

"This is demonstrated by the growth of our new data security business and core network security business, which delivered the largest quarterly revenue contribution in our history," said Gil Shwed, chairman and chief executive, in a statement.

Shares of the Israel-based company rose to a new high of $26.79, before moving back to $26.04, up 6 cents, in midday trading.

(This version CORRECTS company description, ADDS stock quote)