CheckPoint Software's ( CHKP) first-quarter earnings fell sharply from a year earlier, as a charge related to an acquisition offset an 11% revenue increase.

The company earned $41.9 million, or 17 cents a share, in the latest quarter, compared with earnings of $60.1 million, or 24 cents a share, last year. Revenue was $116.1 million in the latest quarter compared with $104.8 million last year, as license revenue rose to $63 million from $58 million, subscription revenue rose to $44 million from $36 million, and services revenue slipped to $9 million from $9.7 million.

Income in the latest quarter includes a charge of $23.1 million related to CheckPoint's acquisition of Zone Labs; excluding the charge, CheckPoint earned $65.0 million, or 25 cents a share, in the latest quarter.

Analysts surveyed by Thomson First Call had been forecasting earnings of 23 cents a share on revenue of $113.8 million in the most recent quarter. The company reportedly said on a follow-up conference call that it expects to earn 23 cents to 25 cents a share on revenue of $123 million to $127 million in the current quarter, compared with the analyst consensus estimate of 24 cents a share on revenue of $124.7 million.

The shares were recently up 79 cents, or 3.6%, to $22.73.

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