Cost cutting measures show their worth...
Published: 19 October 2001 08:30 GMT
Israeli firm Check Point Software has reported third quarter results which show profit up 20 per cent and has hailed the results as a victory for its cost cutting measures.
Revenue was up just over two per cent from $116m to $118m, but profits were up to $74.3m from $61.6m.
The company's shares rose 9.65 per cent, or $2.81, to $31.93 on the Nasdaq.
In the last month Check Point, and other Nasdaq-traded Israeli stocks, have been particularly hard hit by the gloom following the terrorist attacks on the US of 11 September. As a result Check Point had already warned it would not hit predicted revenue of $130m.
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