Check Point Software
reported earnings Monday morning that beat estimates by a penny and revenue that fell sharply from last year but also edged forecasts.
The security software company also said that despite a spending department that remained challenging, it was seeing increased demand, especially in the U.S.
Net income for the company was $64.7 million, or 26 cents per share, on revenue of $108.6 million. The revenue represents a $4 million increase over the previous quarter, but is down more than 23% from the $142.07 million reported in the year-ago quarter.
Analysts were expecting earnings of 25 cents per share on $108 million, according to estimates gathered by Thomson Financial/First Call.
"Despite continued weakness in the IT macroeconomic condition, we saw increased demand and business volume, especially in the U.S. market," said CEO Gil Shwed in a release accompanying earnings.
Check Point closed Friday down 14 cents, or 1%, to $13.86.