“Our industry is very competitive, and while we haven't experienced much of it in the first quarter, I expect to see increased competitive pressure moving forward.”

In context

“Gil Shwed (CEO): That was a comprehensive question, so I'll do my best to answer it. First, we had a strong quarter, which I believe I've already communicated. Regarding the surrounding environment, it's somewhat mixed, and I'm not as optimistic based on our results. On one side, the security marketplace is still healthy, and I expect it to remain that way for several years. However, I don't think customers have begun to open large budgets as they did before. They are being relatively cautious with their budgets, particularly in some of the sectors we operate in. Our industry is very competitive, and while we haven't experienced much of it in the first quarter, I expect to see increased competitive pressure moving forward. Overall, it's a good market, but we haven't fully recovered to the level I would prefer. Geographically, we've seen strong performance in Europe, while the U.S. has been good as well, with new business growth, though it's a bit tighter.”