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Tom Ernst - Deutsche Bank
Anything tactically that Check Point is doing to try to help in the weak market there? Kip Meintzer I don't think there is much from a tactical standpoint. I think what you have seen is due to-date we have delivered new appliances, we are very competitive in the market, we are the best price for performance as far as the products we have, which completely refresh our line of appliances and introduced Gaya our new operating system alone with GAiA with R75.40. We have introduced several new blades including the Anti-Bot blade. So, all of these things I think give us a lot more in our (inaudible) delivered to customers but I think it's still, we are going to see what time pans out for that. Tom Ernst - Deutsche Bank Let's shift gear to the competitive discussion, I know this has been all the questions you have been building last few months, but now that you have watched a few more months of market development, how strongly is Check Point positioned to some really high growth new business models, you have got Fortinet on the one end you have got Palo Alto Networks with what they position is the re-architecture of the firewall. What is the momentum bench for Check Point and how do you see it playing out for next couple of years? Kip Meintzer So, I guess what I look at is we play against these certain players in the marketplace now because over the course of the last several years with the introduction of our software blade architecture and also appliances in 2007, we have actually expanded the market that we address. If you go back to 2007 we had some aspect of our appliances at the beginning were more of UTM variety, had multiple functions. With the introduction of the software blade architecture in 2009 we expanded our presence in the market even wider than it was before and in beginning of 2011 we delivered our Application Control Blade in addition we continue to add even more blade the one on line are our Mobility Blade which we think has some very large potential in the future possibly as we all know that is very large market and there isn't really an economical or really secure solution out there we believe to address the market need for these bring your own device type network, bring your own device to work type of deployment.So, from that standpoint what we have done is we have increased that breadth of the market we address and we have done so we have begun to run into new competitors. And some of those new competitors you see in the marketplace today company such as Fortinet who play more at the mid end of the market but have been trying to make their way up to the higher end of the market and they do very well and I believe in MSP and such. But there is a very different from the product that we deliver and what they deliver today. As there is against most of our competitors. So, we are looking at an aggregate and one of the great things that we get is how come we are not growing as fast. And I think that’s quite obvious, we are larger number and we are playing in those areas and in those areas e are growing quite fast. If you look at what we have delivered today as far as the amounts of blades, I believe we grew year-over-year by about 100% in our bookings because we did 10% of revenue for last year, we are attributed to blades. And this year at beginning of the year at the end of Q4 we had a run rate of over $200 million.
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