UPDATE 2-Cogent Systems Q4 profit rises; sets FY09 outlook
* Q4 EPS $0.13 vs $0.08 year ago
* Q4 revenue up 83.3 pct
* Sees 2009 adj. EPS $0.43-$0.48
* Sees FY09 revenue $130 mln
Feb 25 (Reuters) - Biometric identification systems provider Cogent Systems (COGT.O) reported a 49 percent jump in its fourth-quarter profit, helped by an increase in demand from a number of core customers.
On a conference call with analysts, the company forecast 2009 earnings of 43 cents to 48 cents a share, before items.
The company expects revenue of $130 million for 2009. However, it added that this estimate excludes the expected revenue from two major customers it added last week.
The company posted a fourth-quarter net income of $11.5 million, up from $7.7 million a year ago. Revenue came in at $40 million.
Excluding items, the company earned 14 cents a share.
Cogent provides biometric identification systems, products and services to governments, law enforcement agencies and commercial enterprises.
Shares of the South Pasadena, California-based company closed at $11.02 Wednesday on Nasdaq.
For the alerts, please double-click [ID:nWNAB7004] [ID:nWNAB7030] (Reporting by Mansi Dutta in Bangalore; Editing by Himani Sarkar)
