Applied Signal fiscal 3rd-quarter profit rises with network intelligence revenue growth
By APTuesday, August 31, 2010
Applied Signal 3Q profit increases
SUNNYVALE, Calif. — Applied Signal Technology Inc., a maker of intelligence and surveillance products, said Tuesday that its fiscal third-quarter profit increased as revenue from its network intelligence unit rose.
For the May-July quarter, Applied Signal earned $3.6 million, or 26 cents per share, compared with $3.3 million, or 25 cents per share, in the same quarter last year.
Analysts polled by Thomson Reuters expected a profit of 22 cents per share.
Revenue climbed 14 percent to $56.4 million from $49.5 million last year, but missed analyst estimates for $60.6 million.
The company also said it now thinks its revenue for the full fiscal year will be near the lower end of its outlook of $223 million to $233 million.
Analysts are expecting $229.7 million in fiscal 2010 revenue.
Applied Signal shares fell 32 cents, or 1.6 percent, to $19.30 in after-hours trading, after finishing regular trading up 5 cents at $19.62.
Tags: California, North America, Sunnyvale, United States