Cogent Gains on Earnings Report

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Cogent Inc. shares rose 8 percent after the company reported that second quarter profit nearly tripled.


Sales for the Pasadena-based company, which makes electronic fingerprint machines, more than doubled to $31 million. The company credited increased demand from domestic and international law-enforcement agencies for the surge.


Cogent reported second-quarter net income of $11 million (11 cents per share), a 206 percent jump from $3.6 million (4 cents) from the same period a year earlier. The latest numbers, which beat analysts’ expectations of 9 cents per share, according to a poll by Thomson Financial, also included a $4 million charge to cover legal costs of ongoing intellectual property litigation, the company said.


Shares in Cogent were up $1.06, or 7.9 percent, to $14.49 in afternoon trading Thursday on the Nasdaq. Shares have gained 33 percent so far this year.

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