UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of July 2017
 
Commission File Number 0-28584
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
(Translation of registrant's name into English)
 
5 Ha'solelim Street, Tel Aviv, Israel
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F ☒  Form 40-F ☐
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
 
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form, is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ☐  No ☒
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
 
©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 1

 
INVESTOR CONTACT:
Kip E. Meintzer
Check Point Software Technologies
+1.650.628.2040
ir@checkpoint.com
MEDIA CONTACT:
Ali Donzanti
Check Point Software Technologies
+1.650.628.2030
press@checkpoint.com
 
CHECK POINT SOFTWARE TECHNOLOGIES REPORTS
SECOND QUARTER 2017 FINANCIAL RESULTS
 
SAN CARLOS, CA – July 20, 2017 — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the second quarter ended June 30, 2017.
 
Second Quarter 2017:
 
·
Total Revenue: $459 million, an 8 percent increase year over year
 
·
Software Blades Subscriptions Revenues: $118 million, a 27 percent increase year over year
 
·
GAAP Operating Income: $222 million, representing 48 percent of revenues
 
·
Non-GAAP Operating Income: $248 million, representing 54 percent of revenues
 
·
GAAP EPS: $1.12, an 18 percent increase year over year
 
·
Non-GAAP EPS: $1.26, a 16 percent increase year over year
 
·
Deferred Revenues: $1,065 million, a 19 percent increase year over year

"We posted strong second quarter results. Revenue growth was healthy and earnings per share growth of sixteen percent exceeded the high-end of our projections," said Gil Shwed, founder and chief executive officer of Check Point Software Technologies, "The major attacks that occurred during the last few months have demonstrated the need for a different approach to cyber security.  We believe focusing on prevention, sharing real-time attack information and consolidation of the security infrastructure can stop the next attack.  Check Point Infinity, launched last quarter, provides consolidated security architecture across networks, cloud and mobile, delivering our highest level of threat prevention."
 
Financial Highlights for the Second Quarter of 2017:
 
·
Total Revenue: $459 million compared to $423 million in the second quarter of 2016.
 
·
GAAP Operating Income: $222 million compared to $202 million in the second quarter of 2016.
 
·
Non-GAAP Operating Income: $248 million compared to $227 million in the second quarter of 2016.
 
·
GAAP Taxes on Income: $45 million compared to $48 million in the second quarter of 2016.
 
·
GAAP Net Income and Earnings per Diluted Share: GAAP net income was $188 million compared to $166 million in the second quarter of 2016. GAAP earnings per diluted share were $1.12 compared to $0.95 in the second quarter of 2016.
 
·
Non-GAAP Net Income: Non-GAAP net income was $212 million compared to $190 million in the second quarter of 2016.
 
·
Non-GAAP Earnings per Diluted Share: $1.26 compared to $1.09 in the second quarter of 2016.
 
·
Deferred Revenues: As of June 30, 2017, deferred revenues were $1,065 million compared to $892 million as of June 30, 2016.
 
·
Cash Flow: Cash flow from operations of $226 million compared to $205 million in the second quarter of 2016.
 
·
Share Repurchase Program: During the second quarter of 2017, the company repurchased 2.3 million shares at a total cost of $248 million.
 
·
Cash Balances, Marketable Securities and Short Term Deposits: $3,806 million as of June 30, 2017, compared to $3,708 million as of June 30, 2016.
 
©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 2
For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see "Use of Non-GAAP Financial Information" and "Reconciliation of GAAP to Non-GAAP Financial Information."
 
2017 Business Highlights

·
Cyber Security Architecture of the Future: Check Point Infinity is our fully consolidated cyber security platform that is focused on preventing attacks across networks, clouds, and mobile. This new architecture includes the widest breadth of security solutions, all managed by a consolidated security management system. As part of this architecture introduction, the following key product and features have been added or updated:
 
o
R80.10 security Gateway & Security Management: The underlying software of Check Point Infinity features dozens of new capabilities and enhancements, including unique policy layers, security multi-zones and boosted performance to keep organizations protected against threats, anytime and anywhere.
 
o
Mobile Threat Defense – SandBlast Product Family: SandBlast Mobile provides a centralized security solution designed to safeguard users against progressive mobile cyber-attacks. SandBlast Mobile, the only mobile threat defense solution to detect and block 100% of tested threats in the Miercom MTD Industry Assessment Report, March 2017, protects employees' devices from malware attacks via infected apps, man-in-the-middle attacks through compromised Wi-Fi networks, operating system vulnerabilities, and malicious links sent via SMS messages.
 
o
Anti-Ransomware:  Check Point's new Anti-Ransomware technology enables businesses to protect against cyber extortion and sophisticated ransomware. Its signature-less technology designed to detect unknown and zero-day ransomware attacks through advanced behavioral analysis and by detecting attempts to encrypt files illegitimately. Ransomware infections are detected and quarantined automatically and if any data was encrypted, it is automatically restored.
 
o
World's Fastest Threat Prevention Platform: Launched an updated family of super-high end security gateways, the 44000 & 64000 appliance series deliver exceptionally fast threat prevention  with 42 Gbps of Real-World Production Threat Prevention throughput and 636 Gbps of Real-World Production Firewall throughput. They also include multi-bladed chassis to support the dynamic needs of growing networks, while offering the high reliability and performance needed for the future of cyber security.

We received the following industry accolades and announced the following partnerships:
 
·
Leader in the 2017 Gartner Magic Quadrant for Enterprise Network Firewalls – The new report evaluated the company's "completeness of vision" and "ability to execute" in areas such as security management and threat prevention. Check Point has been positioned as a Leader in Enterprise Network Firewalls Magic Quadrant since 1997.
 
·
Leader in the 2016 Gartner Magic Quadrant for Unified Threat Management – The new report evaluated the company's completeness of vision and ability to execute within the small and mid-sized business market. Check Point has been positioned as a Leader in Unified Threat Management Magic Quadrant for six consecutive years.
 
·
Check Point SandBlast Mobile Receives Miercom's Certified Secure Award: SandBlast Mobile received Miercom's Certified Secure Award in the first independent, mobile threat defense test. The test measured the products ability to identify, block, and respond to malicious malware, network attack vulnerabilities, and mobile device vulnerabilities. This is Miercom's highest award of achievement in competitive, hands-on testing.
 
©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 3
·
Check Point Infinity NGFW Earns NSS Recommended in Next Generation Firewall Test: For the 14th consecutive time, Check Point has achieved a recommended rating in the 2017 NSS Labs Next Generation Firewall Group Test.
 
·
Automotive Cyber Security: Check Point joined forces with Valens as members of the HDBaseT Alliance to help define the necessary specifications for a more secure connected car. The alliance will drive the development of a safer, better-equipped solution for in-vehicle connectivity and safety.

Our security research organization has also continued to expose vulnerabilities in today's infrastructure, which included critical vulnerabilities in mobile equipment and applications, including:
 
·
Watching a movie on your personal computer can infect your computer: Hacked in Translation malware utilizes subtitles as a new attack vector. Once the subtitles are infected hackers may be able to execute malicious subtitles to target users of popular media platforms and potentially gain complete control over the device.
 
·
Over 250 million computers worldwide were infected with the Fireball malware: Check Point Threat Intelligence and research teams discovered this high-volume Chinese threat operation, which installed malware that takes over the target computer's browser and turns it into a "zombie." Once infected, hackers can run any code on the victim's computer, and hijack and manipulate the infected users' web-traffic to generate ad-revenue.
 
·
14 million Android devices infected with CopyCat: Check Point researchers identified the mobile malware that infected approximately 8 million Android devices, and allowed the hackers behind the campaign to skim ad revenues.

"We've made important headway in enabling companies to prevent cyber-attacks by introducing the Check Point Infinity cyber security architecture.  We will continue to focus on our vision – the next attack can be prevented" concluded Shwed.

Third Quarter Investor Conference Participation Schedule:
 
·
KeyBanc Capital Markets 19th Annual Global Technology Leadership Forum
August 7, 2017 – Vail, CO
 
·
Oppenheimer 20th Annual Technology Conference
August 9, 2017 – Boston, MA
 
·
Citi 2017 Global Technology Conference
September 7, 2017 – New York, NY
 
Members of Check Point's management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point's conference presentations are expected to be available via webcast on the company's web site. To view these presentations and access the most updated information please visit the company's web site at www.checkpoint.com/ir. The schedule is subject to change.

Conference Call and Webcast Information
Check Point will host a conference call with the investment community on July 20, 2017, at 8:30 AM ET/5:30 AM PT. To listen to the live webcast, please visit the website at: www.checkpoint.com/ir. A replay of the conference call will be available through July 26, 2017 on the company's website or by telephone at +1.201.612.7415, replay ID number 13666210.

About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is the largest network cyber security vendor globally, providing industry-leading solutions and protecting customers from cyberattacks with an unmatched catch rate of malware and other types of threats. Check Point offers a complete security architecture defending enterprises – from networks to mobile devices – in addition to the most comprehensive and intuitive security management. Check Point protects over 100,000 organizations of all sizes.


©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 4
©2017 Check Point Software Technologies Ltd. All rights reserved

Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding our products and solutions, including the Check Point Infinity architecture, our continued focus on enabling companies to prevent cyber-attacks by introducing the Check Point Infinity architecture and our participation in investor conferences during the second quarter of 2017.  Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected.  These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; and general market, political, economic and business conditions.  The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and  Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 28, 2017.  The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Check Point's ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures in order to assist the investment community to see the Company "through the eyes of management," and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.
 

©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 5
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONSOLIDATED STATEMENT OF INCOME

 (In thousands, except per share amounts)

   
Three Months Ended
   
Six Months Ended
 
   
June 30,
   
June 30,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
Revenues:
                       
   Products and licenses
 
$
138,288
   
$
136,248
   
$
264,614
   
$
258,978
 
   Software Blades subscriptions
   
117,947
     
92,700
     
230,011
     
180,828
 
Total revenues from products and software blades
   
256,235
     
228,948
     
494,625
     
439,806
 
   Software updates and maintenance
   
202,338
     
193,801
     
399,398
     
387,214
 
Total revenues
   
458,573
     
422,749
     
894,023
     
827,020
 
                                 
Operating expenses:
                               
   Cost of products and licenses
   
26,207
     
25,125
     
50,093
     
48,164
 
Cost of software blades subscriptions
   
5,349
     
1,868
     
9,429
     
3,686
 
Total cost of products and software blades
   
31,556
     
26,993
     
59,522
     
51,850
 
Cost of Software updates and maintenance
   
21,291
     
20,559
     
42,076
     
40,165
 
    Amortization of technology
   
546
     
546
     
1,092
     
1,092
 
Total cost of revenues
   
53,393
     
48,098
     
102,690
     
93,107
 
                                 
   Research and development
   
46,368
     
43,854
     
92,460
     
86,188
 
   Selling and marketing
   
114,681
     
107,558
     
220,868
     
199,316
 
   General and administrative
   
22,489
     
21,088
     
45,533
     
44,037
 
Total operating expenses
   
236,931
     
220,598
     
461,551
     
422,648
 
                                 
Operating income
   
221,642
     
202,151
     
432,472
     
404,372
 
Financial income, net
   
11,311
     
11,815
     
21,679
     
21,763
 
Income before taxes on income
   
232,953
     
213,966
     
454,151
     
426,135
 
Taxes on income
   
44,591
     
48,147
     
83,238
     
92,894
 
Net income
 
$
188,362
   
$
165,819
   
$
370,913
   
$
333,241
 
                                 
Basic earnings per share
 
$
1.15
   
$
0.97
   
$
2.26
   
$
1.94
 
Number of shares used in computing basic earnings per share
   
163,328
     
170,942
     
164,197
     
172,169
 
                                 
Diluted earnings per share
 
$
1.12
   
$
0.95
   
$
2.21
   
$
1.89
 
Number of shares used in computing diluted earnings per share
   
167,685
     
174,816
     
168,090
     
175,898
 


©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 6
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
RECONCILIATION OF GAAP TO NON GAAP FINANCIAL INFORMATION

 (In thousands, except per share amounts)

   
Three Months Ended
   
Six Months Ended
 
   
June 30,
   
June 30,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
                         
GAAP operating income
 
$
221,642
   
$
202,151
   
$
432,472
   
$
404,372
 
Stock-based compensation (1)
   
23,378
     
21,999
     
42,453
     
40,216
 
Amortization of intangible assets and acquisition related expenses (2)
   
3,259
     
3,282
     
6,518
     
6,576
 
Non-GAAP operating income
 
$
248,279
   
$
227,432
   
$
481,443
   
$
451,164
 
                                 
GAAP net income
 
$
188,362
   
$
165,819
   
$
370,913
   
$
333,241
 
Stock-based compensation (1)
   
23,378
     
21,999
     
42,453
     
40,216
 
Amortization of intangible assets and acquisition related expenses (2)
   
3,259
     
3,282
     
6,518
     
6,576
 
Taxes on the above items (3)
   
(2,993
)
   
(653
)
   
(6,378
)
   
(2,496
)
Non-GAAP net income
 
$
212,006
   
$
190,447
   
$
413,506
   
$
377,537
 
                                 
Diluted GAAP Earnings per share
 
$
1.12
   
$
0.95
   
$
2.20
   
$
1.89
 
Stock-based compensation (1)
   
0.14
     
0.12
     
0.25
     
0.23
 
Amortization of intangible assets and acquisition related expenses (2)
   
0.02
     
0.02
     
0.04
     
0.04
 
Taxes on the above items (3)
   
(0.02
)
   
-
     
(0.03
)
   
(0.01
)
Diluted Non-GAAP Earnings per share
 
$
1.26
   
$
1.09
   
$
2.46
   
$
2.15
 
                                 
Number of shares used in computing diluted  Non-GAAP earnings per share
   
167,685
     
174,816
     
168,090
     
175,898
 
                                 
(1) Stock-based compensation:
                               
   Cost of products and licenses
 
$
23
   
$
17
   
$
39
   
$
34
 
   Cost of software updates and maintenance
   
675
     
554
     
1,232
     
975
 
   Research and development
   
3,913
     
3,452
     
7,598
     
6,298
 
   Selling and marketing
   
5,732
     
5,560
     
8,464
     
7,803
 
   General and administrative
   
13,035
     
12,416
     
25,120
     
25,106
 
   
$
23,378
   
$
21,999
   
$
42,453
   
$
40,216
 
                                 
(2) Amortization of intangible assets and acquisition related expenses:
                               
   Amortization of technology-cost of revenues
 
$
546
   
$
546
   
$
1,092
   
$
1,092
 
   Research and development
   
1,897
     
1,897
     
3,794
     
3,794
 
   Selling and marketing
   
816
     
839
     
1,632
     
1,690
 
   
$
3,259
   
$
3,282
   
$
6,518
   
$
6,576
 
                                 
(3) Taxes on the above items
 
$
(2,993
)
 
$
(653
)
 
$
(6,378
)
 
$
(2,496
)
                                 
Total, net
 
$
23,644
   
$
24,628
   
$
42,953
   
$
44,296
 
 
 
©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 7
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEET DATA

(In thousands)

ASSETS
 
   
June 30,
   
December 31,
 
   
2017
   
2016
 
   
(unaudited)
   
(audited)
 
Current assets:
           
Cash and cash equivalents
 
$
278,937
   
$
187,428
 
Marketable securities and short-term deposits
   
1,320,018
     
1,185,499
 
Trade receivables, net
   
334,049
     
478,507
 
Prepaid expenses and other current assets
   
87,581
     
41,021
 
Total current assets
   
2,020,585
     
1,892,455
 
                 
Long-term assets:
               
Marketable securities
   
2,207,451
     
2,296,097
 
Property and equipment, net
   
69,936
     
61,859
 
Severance pay fund
   
5,055
     
4,617
 
Deferred tax asset, net
   
153,656
     
94,608
 
Goodwill and other intangible assets, net
   
832,287
     
834,167
 
Other assets
   
30,414
     
33,833
 
Total long-term assets
   
3,298,799
     
3,325,181
 
                 
Total assets
 
$
5,319,384
   
$
5,217,636
 

LIABILITIES AND
SHAREHOLDERS' EQUITY
 
Current liabilities:
           
Deferred revenues
 
$
792,838
   
$
814,418
 
Trade payables and other accrued liabilities
   
334,759
     
351,440
 
Total current liabilities
   
1,127,597
     
1,165,858
 
                 
Long-term liabilities:
               
Deferred revenues
   
271,832
     
251,166
 
Income tax accrual
   
341,717
     
300,536
 
Accrued severance pay
   
10,011
     
8,953
 
     
623,560
     
560,655
 
                 
Total liabilities
   
1,751,157
     
1,726,513
 
                 
Shareholders' equity:
               
Share capital
   
774
     
774
 
Additional paid-in capital
   
1,214,993
     
1,139,642
 
Treasury shares at cost
   
(5,414,515
)
   
(4,956,172
)
Accumulated other comprehensive loss
   
(4,050
)
   
(9,250
)
Retained earnings
   
7,771,025
     
7,316,129
 
Total shareholders' equity
   
3,568,227
     
3,491,123
 
                 
Total liabilities and shareholders' equity
 
$
5,319,384
   
$
5,217,636
 
Total cash and cash equivalents, marketable securities and short-term deposits
 
$
3,806,406
   
$
3,669,024
 

 
©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 8
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED CONSOLIDATED CASH FLOW DATA
 
(In thousands)
 
   
Three Months Ended
   
Six Months Ended
 
   
June 30,
   
June 30,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
Cash flow from operating activities:
                       
Net income
 
$
188,362
   
$
165,819
   
$
370,913
   
$
333,241
 
Adjustments to reconcile net income to net cash provided by operating activities:
                               
                                 
Depreciation of property and equipment
   
3,017
     
2,720
     
5,998
     
5,392
 
Amortization of intangible assets
   
940
     
963
     
1,880
     
1,937
 
Stock-based compensation
   
23,378
     
21,999
     
42,453
     
40,216
 
Realized loss (gain) on marketable securities
   
68
     
(1,429
)
   
143
     
(1,124
)
Decrease (increase) in trade and other receivables, net
   
(49,248
)
   
(21,635
)
   
141,934
     
141,218
 
Increase (decrease) in deferred revenues, trade payables and other accrued liabilities (*)
   
44,147
     
42,800
     
(8,606
)
   
14,073
 
Excess tax benefit from stock-based compensation
   
-
     
(3,683
)
   
-
     
(4,814
)
Deferred income taxes, net
   
15,632
     
(2,528
)
   
26,994
     
(1,214
)
Net cash provided by operating activities
   
226,296
     
205,026
     
581,709
     
528,925
 
                                 
Cash flow from investing activities:
                               
                                 
Investment in property and equipment
   
(6,122
)
   
(5,942
)
   
(14,075
)
   
(10,650
)
Net cash used in investing activities
   
(6,122
)
   
(5,942
)
   
(14,075
)
   
(10,650
)
                                 
Cash flow from financing activities:
                               
Proceeds from issuance of shares upon exercise of options
   
39,324
     
17,379
     
63,706
     
33,529
 
Purchase of treasury shares
   
(247,987
)
   
(245,671
)
   
(495,849
)
   
(492,937
)
Excess tax benefit from stock-based compensation
   
-
     
3,683
     
-
     
4,814
 
Payments related to shares withheld for taxes (*)
   
(3,855
)
   
(2,576
)
   
(4,064
)
   
(2,726
)
Net cash used in financing activities
   
(212,518
)
   
(227,185
)
   
(436,207
)
   
(457,320
)
                                 
Unrealized gain on marketable securities, net
   
1,991
     
6,913
     
5,955
     
31,618
 
                                 
Increase (decrease) in cash and cash equivalents, marketable securities and short term deposits
   
9,647
     
(21,188
)
   
137,382
     
92,573
 
                                 
Cash and cash equivalents, marketable securities and short term deposits at the beginning of the period
   
3,796,759
     
3,729,175
     
3,669,024
     
3,615,414
 
                                 
Cash and cash equivalents, marketable securities and short term deposits at the end of the period
 
$
3,806,406
   
$
3,707,987
   
$
3,806,406
   
$
3,707,987
 

(*) Payments related to shares withheld for taxes during the three and six month periods ending June 30, 2016 were reclassified from operating activity to financing activity following ASU 2016-09 adoption.
 

©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 9
 
Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
  CHECK POINT SOFTWARE TECHNOLOGIES LTD.  
       
 
By:
/s/ Tal Payne  
    Tal Payne  
    Chief Financial Officer & Chief Operating Officer  
       
July 20, 2017
 
 
©2017 Check Point Software Technologies Ltd. All rights reserved         |         P. 10