January 19, 2005 Investor Alert Issued
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by eLocity Inc.
SARASOTA, FL -- (MARKET WIRE) -- 01/19/05 -- SoftNet Technology (OTC BB: STTC), Check Point Software Technologies, Ltd. (NASDAQ: CHKP) , PMC-Sierra, Inc. (NASDAQ: PMCS) and Chinadotcom Corp. (NASDAQ: CHINA).
Aggressive stock traders and investors, have a look at SoftNet Technology (OTC BB: STTC). SoftNet announced Tuesday that its wholly owned subsidiary WholesaleByUs (WBU) is expanding product Distribution. The expansion will be funneled through Froogle.com and Overstock.com. The company further stated that "WBU will be selling through the Froogle.com portal here in the United States and in the United Kingdom. Froogle.com will redirect all searches for products listed through the froogle.com search engine to the WBU website."
STTC traded volume Tuesday of 1,613,693 and is currently trading at around 21 cents a share.
Check Point Software Technologies, Ltd. (NASDAQ: CHKP)
After the bell Tuesday, Internet security solutions provider, Check Point Software Technologies, Ltd., reported fourth-quarter net income of $76.4 million or $0.30 per share, compared to $65.3 million or $0.26 per share in the year-ago quarter. Total revenue was $143 million in the fourth quarter, up from $115.3 million last year.
CHKP closed Tuesday's regular trading session at $22.97 on volume of 5.29 million shares.
PMC-Sierra, Inc. (NASDAQ: PMCS)
Broadband communications provider, PMC-Sierra, Inc., announced Tuesday it has completed redemption of the remaining balance of its outstanding 3.75% Convertible Subordinated Notes due August 15, 2006. The company said about $68.1 million aggregate principal amount of the notes was redeemed for about $70.2 million in cash, which included about $1.1 million in accrued interest. PMC said holders of the notes did not elect to convert their notes into its common stock.
PMCS closed Tuesday's regular trading session at $9.78 on volume of 3 million shares.
Chinadotcom Corp. (NASDAQ: CHINA)
Pivotal Corp., a software unit of Chinadotcom Corp., and New Home Technologies, a building industry technology consortium, said that they would jointly market products and services to homebuilders under an alliance agreement. The companies said that their alliance program aims to accelerate adoption of sales marketing, service warranty and options management solutions by the homebuilding industry. Also, the companies would share industry and technology expertise and identify customer integration projects.
CHINA closed Tuesday's regular trading session at $3.94 on volume of 804,080 shares.
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January 18, 2005
Check Point Software Technologies Reports 2004 Fourth Quarter and Annual Financial Results; 2004 Fourth Quarter Revenues Increased 24% Over Fourth Quarter of 2003
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Jan. 18, 2005--Check Point Software Technologies Ltd. (NASDAQ:CHKP), the worldwide leader in securing the Internet, today announced its financial results for the fourth quarter and year ended December 31, 2004.
Financial Highlights for the Fourth Quarter of 2004:
-- Revenues: $143.0 million, an increase of 24% compared to
$115.3 million in the fourth quarter of 2003.
-- Net income: $76.4 million, and $78.7 million excluding net
acquisition related charges(1), an increase of 21% compared to
$65.3 million in the fourth quarter of 2003.
-- Earnings per Diluted Share: $0.30, and $0.31 excluding net
acquisition related charges, an increase of 19% compared to
$0.26 in the fourth quarter of 2003.
-- Operating Margin: 58% for the fourth quarter of 2004,
excluding acquisition related charges, compared to 56% in the
third quarter of 2004.
-- Share Repurchase Program: During the fourth quarter, the
company purchased 1.9 million shares at a total cost of close
to $44.3 million. In 2004, the company purchased a total of 12
million shares at a total cost of $245 million.
Financial Highlights for the Year Ended December 31, 2004:
-- Revenues: $515.4 million, an increase of 19% compared to
$432.6 million for the year ended December 31, 2003.
-- Net Income: $248.4 million, and $278.7 excluding net
acquisition related charges, an increase of 14% compared to
$243.9 million in 2003.
-- Earnings per Diluted Share: $0.95, and $1.07 excluding net
acquisition related charges, an increase of 11% compared to
$0.96 in 2003.
-- Cash and Interest Bearing Investments: $1.58 billion as of
December 31, 2004.
-- Record Deferred Revenues: $141.1 million as of December 31,
2004, an increase of $16.3 million from the third quarter of
"Fourth quarter results demonstrated a strong ending to a very good year," said Gil Shwed, chairman and CEO of Check Point Software Technologies. "We redefined the scope of the Internet security market with the introduction of our new Internal and Web security products and technologies. We've also expanded our product portfolio and customer access with our endpoint security products; Integrity and the ZoneAlarm family. In addition, we've continued to experience healthy growth and traction for our enterprise, high-end and branch office security gateways."