Check Point presents a 4% decline in annual net income which totaled to $ 815.6 million

Check Point on Thursday released its financial results for 2021 and showed a 4% decline in annual net income, which totaled $ 815.6 million - compared to $ 846.6 million in 2020. The publication of the reports took place against the background of her announcement yesterday regarding the acquisition of the Israeli start-up Spectral for $ 60 million.
The decrease in Check Point's annual profit was recorded despite a 5% increase in its revenues during 2021. The company's revenues totaled $ 2.167 billion. The company's operating profit totaled $ 907.5 million, similar to the $ 904.2 million operating profit it presented in 2020. On the bottom line, Check Point's net profit accumulated in 2021 to $ 815.6 million, about 4% less than in 2020.
The Corona plague, which has led workers to work remotely, has led the cyber sector to burn and Check Point to increase its revenue by 6% in one quarter to $ 599 million. The company's revenue from subscribers grew by 14% to $ 204 million. GAAP's accounting operating profit in the fourth quarter of 2021 grew sharply by 41% compared to the same quarter last year - and amounted to $ 246 million. Non-GAAP non-GAAP operating profit soared in the fourth quarter of 2021 by 47% to $ 285 million.
At a press conference held at Zoom, Gil Schweid, founder and CEO of Check Point, revealed that the company intends to expand its workforce, and said that in order to continue the sharp growth trend that Check Point experienced in sales in the fourth quarter of 2021, it intends to increase by 25 The sales staff also noted that for the first time in 29 years, the company has changed its logo so that it includes the phrase "you are entitled to the best security."
"We closed 2021 with strong financial results," said Schweid, "it was the sixth consecutive quarter with a sharp 14% increase in customer charges. Our success is driven by Infinity's platform security capabilities, and Check Point's network security solutions "CloudGuard Point". The Infinity platform provides multi-dimensional central protection for the organization and handles dozens of security services in a variety of challenges, including software interfaces, code compliance testing, authentication of access to intruders and prevention of known vulnerabilities that base the attack with multi-step tools. "We have seen the attacks that have disabled hospitals and we are proud to say that with our customers because of the good architecture of the Infiniti system we identified the attack even before it was published and we knew how to stop it," said Schweid.
According to him, the field of cyber security has become a very important field, and customers must choose the best company for themselves. Check Point, Schweid said, now allows its customers to get comprehensive protection against intrusions into email, mobile devices and the Internet. "We are producing comprehensive defense for fifth generation attacks."
According to Schweid, the rate of attacks on entities in Israel has jumped by 92% compared to 2020, while in the world the rate of increase in attacks has increased by only 50%. He said during 2021 there were an average of 1,100 weekly attacks on organizations compared to the 925 weekly attacks recorded worldwide. "In the second half of 2021, Israel overtook the world and the number of attacks on organizations in Israel increased to more than 20% above the world average. Therefore, we also see a lot of noisy attacks that create a problematic public element, disrupting hospitals and organizations. "Within a day, find the existing threats and assimilate Infiniti's capabilities within a few hours."
Check Point's operations generated a strong cash flow of $ 294 million in the fourth quarter, similar to the fourth quarter of 2020. It closed 2021 with cash flow from operating activities amounting to $ 1.183 billion: about $ 30 million more than 2020.
In the fourth quarter of 2021 the company repurchased 2.8 million shares for a total amount of 325 million. During the entire 2021 the company repurchased 10.9 million shares for approximately $ 1.3 billion.