Cogent Systems Inc., which makes fingerprint-identification systems, said Monday it expects its first-quarter earnings to narrowly top Wall Street's expectations but further delayed its first-quarter report pending a settlement review.
The company expects to earn $8.2 million, or 9 cents per share. Adjusted to exclude certain one-time items, the company predicts net income of $8.8 million, or 9 cents per share.
Cogent expects to report sales of $24.6 million.
Analysts expect a profit of 8 cents per share on revenue of $23 million, according to a poll by Thomson Financial.
The company said it will release its first-quarter financial report after it completes a review with the Securities and Exchange Commission on how to account for its patent settlement with defense contractor Northrop Grumman Corp. Cogent did not specify a date for the release.
Northrop Grumman said in September of last year it will pay $25 million to settle the suit, which concerned a fingerprinting system it developed for a British law-enforcement group using Cogent fingerprint-matching technology.
Cogent postponed its first-quarter earnings conference call, previously scheduled for Monday. It said it expects to reschedule the call later this month.
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