Key Developments For Cogent, Inc.
Cogent, Inc. (COGT.O) (Nasdaq)
Cogent, Inc. Issues FY 2009 Guidance Below Analysts' Estimates-Conference Call
Cogent, Inc. announced that it expects revenue to be in the range of $130 million - $135 million and earnings per share (EPS) of $0.33 to $0.40 per share in fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $140 million and non-GAAP EPS of $0.44 in the same period.
Cogent, Inc. Announces Contract with U.K. Post Office Limited
Cogent, Inc. announced that it has been awarded a contract to provide services to Post Office Limited in the United Kingdom. The initial contract is valued by the Company at £42 million pounds or approximately $60 million dollars over a five year period.
Cogent, Inc. and Keyscan Inc. Announces Distribution Partnership for North American Access Control Market
Cogent, Inc. and Keyscan Inc., a market company in manufacturing premium access control hardware and software, announced a distribution and OEM partnership. As part of this agreement, Keyscan will provide an extensive North American-wide distribution network for Cogent`s BioGate line of commercial biometric readers for physical access control (PACs) solutions.
Cogent, Inc. Announces Extension and Increases Size of Share Repurchase Program to $150 Million
Cogent, Inc. announced that its Board of Directors has authorized an extension until November 12, 2009 of the share repurchase program previously announced in November 2007. Also, the Board of Directors increased the size of the repurchase program to $150 million. The stock repurchase program originally allowed for the repurchase of up to $100 million of the Company's common stock over a one year period. To date, the Company has repurchased a total of 6 million shares at a combined cost of approximately $59 million or $9.84 per share.
Cogent, Inc. Reiterates FY 2008 Revenue Outlook; Issues FY 2008 EPS Outlook In Line With Analysts' Estimates-Conference Call
Cogent, Inc. reiterated its fiscal 2008 revenue outlook of $125 million. It expects non-GAAP EPS of $0.50-$0.55. According to Reuters Estimates, analysts were expecting the Company to report non-GAAP EPS of $0.51 for the same period.
