printmgr file

CHECK POINT SOFTWARE
FORM 20-F DFN ON-BOA
ˆ200FDMqk04fLswz7&Š
200FDMqk04fLswz7
RR Donnelley ProFile wcrdoc1
10.10.12 WCRpf_rend 26-Mar-2012 17:26 EST
229899 TX 42 2*
PAL
09-Apr-2012 13:21 EST CURR
PS PMT 1C
The following table presents information concerning our results of operations as a percentage of revenues
for the periods indicated:
Year Ended December 31,
2009 2010 2011
Revenues:
Products and licenses .................................................. 39% 40% 40%
Software updates, maintenance and subscriptions ........................... 61 60 60
Total revenues ........................................................... 100% 100% 100%
Operating expenses:
Cost of products and licenses ........................................... 6 7 6
Cost of software updates, maintenance and subscriptions ..................... 5 5 5
Amortization of technology ............................................ 3 3 3
Cost of revenues ..................................................... 14 15 14
Research and development ............................................. 10 10 9
Selling and marketing ................................................. 24 21 21
General and administrative ............................................. 6 5 5
Restructuring and other acquisition related costs ............................ 1 — —
Total operating expenses ................................................... 55 51 49
Operating income ........................................................ 45 49 51
Financial income, net ..................................................... 3 2 3
Other than temporary impairment net of gain on sale of marketable securities previously
written down .......................................................... — — —
Income before taxes on income .............................................. 48 51 54
Taxes on income ......................................................... 9 10 10
Net income ............................................................. 39% 41% 44%
Revenues
We derive our revenues mainly from the sale of products and licenses of software, and related software
updates, maintenance and subscriptions. Our revenues were $924.4 million in 2009, $1,097.9 million in 2010 and
$1,247.0 million in 2011.
Total revenues in 2011 grew by 14% compared to 2010. Product and license revenues increased by $59.1
million, or 13%, from $444.4 million in 2010 to $503.5 million in 2011, which was attributable primarily to
growth in sales of our integrated appliances. In 2011, product and license revenues as a percentage of total
revenues were 40%, the same percentage as in 2010. Software updates, maintenance and subscriptions revenues
increased by $90.0 million, or 14%, from $653.5 million in 2010 to $743.5 million in 2011, primarily as a result
of renewals and new sales of maintenance contracts and increasing sales of IPS and Application Control security
services.
Total revenues in 2010 grew by 19% compared to 2009. Product and license revenues increased by $82.8
million, or 23%, from $361.6 million in 2009 to $444.4 million in 2010, which was attributable primarily to
growth in sales of our integrated appliances. In 2010, product and license revenues as a percentage of total
revenues was 40%, compared with 39% in 2009. Software updates, maintenance and subscriptions revenues
increased by $90.7 million, or 16%, from $562.8 million in 2009 to $653.5 million in 2010, primarily as a result
of renewals and new sales of maintenance contracts and increasing sales of IPS security services and the
aggregation of the full year for the Nokia integration.
42