Check Point Software ( CHKP) narrowly beat analysts' expectations for the fourth quarter as profit rose 11%. Net income rose to $87.9 million, or 39 cents a share, compared with $79.5 million, or 35 cents a share, a year ago. That included acquisition related charges of $10.3 million, or 5 cents a share, and equity-based compensation expenses of $8.8 million, or 4 cents a share. Excluding charges, Check Point earned $102.5 million, or 46 cents a share, compared with $90.6 million, or 40 cents a share, in the fourth quarter of 2006. Analysts polled by Thomson Financial were expecting it to report EPS of 45 cents a share. Revenue increased 29% to $206.7 million, compared with $160.1 million a year ago, and higher than analysts' expectations of $202.3 million. Network security accounted for $182.5 million in revenue, a 14% increase over the fourth quarter of 2006 and data security contributed $24.2 million in revenue. Deferred revenue in the quarter rose 34% from a year ago to $273.7 million. For its fiscal first quarter, Check Point guided revenue in the range of $184 million to $193 million. Excluding charges, the company expects to report earnings between 39 cents to 42 cents a share. Analysts were expecting revenue of $185.4 million and EPS of 40 cents. Shares of Check Point were recently off 11 cents, or 0.5%, to $20.80.