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Technology Stocks : Check Point Software (CHKP) -- Ignore unavailable to you. Want to Upgrade?

To: Carmine Cammarosano who wrote (4234)	7/20/1999 8:13:00 AM
From: P.M.Freedman	Respond to of 7150

The company has moved partially to the US. The tax benefit has reduced since this year. Checkpoint has showed us their ability to bring $$$ into the company. It used to be small companies can carry higher margin than those big companies. Did CheckPoint get big? Yes! Did CheckPoint's revenues grow significantly? Yes! Did CheckPoint still play as a leader in the sector? Yes! Did you see any obvious wrong doing by the management team? No! As we all know, business goes better from better. History does not mean future, but tell us the possible direction to go. Have you seen the 21000 installations of VPN in this year? It is over 165 installations per business day. It is in deed impressed me very much.

To: Carmine Cammarosano who wrote (4234)	7/20/1999 8:54:00 AM
From: Logain Ablar	Respond to of 7150

Carmine: Great revenue growth. Higher than the 36% I thought they were leading the street on. From last year Gil has indicated they were increasing R&D to be 9% of sales and the tax rate will go up due to the Israel tax law (I think this years rate is 11 or 12 %). Peter their structured so the US sales are not taxed @ US rates (i.e. I believe they sell to the US company which sells to the US end user so most of the profits are taxed @ Israel rates vs. US). Will listen to CC later but this is great top line #. I expected 54 cents with a 36% revenue gain. Wonder where my calculations went wrong. Tim