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Check Point sees $300 million wireless deals in next two years

Deutsche Bank expects firm will post $547 million revenue for 2002

Deutsche Bank believes that Check Point Software Technologies (Nasdaq:CHKP) was awarded a $500,000 contract by a European cellular provider, probably Vodafone (NYSE, LSE:VOD).

Check Point on Thursday provided investors 2002 guidance, including financial projections for the year, and a more general forecast about 2003. In addition, the company presented new products and new targeted markets.

Analysts Michael Carboy and Brian Wakabayashi have issued updated projections, which are within the range provided by Check Point. The analysts believe that revenue for 2002 will come to $547 million, and that earnings per share will come to $1.3.

In the course of 2001, Check Point forged an alliance with Nokia (NYSE:NOK), which incorporated Check Point solutions on its platforms.

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Check Point announced that it will launch new products in February, mainly firewalls especially tailored to the cellular market, namely its 3G products.

Chairman and CEO Gil Shwed estimates that the cellular infrastructure market involves $300 million worth of opportunities for Check Point over the coming two years.