ICx Technologies Reports Narrower 4Q Loss

ARLINGTON, Va. (AP) — ICx Technologies Inc., which makes sensors used along the U.S.-Mexico border and at the Beijing Olympics, said on Thursday its fourth-quarter loss narrowed to $2 million on demand by the government and companies for surveillance equipment.

The loss worked out to 6 cents per share for the quarter that ended Dec. 31, compared with a loss of $7.6 million after payment dividends on preferred stock, or 32 cents per share, during the same period a year earlier. Revenue was $53.1 million, up 27.8 percent from $41.5 million a year earlier.

Analysts surveyed by Thomson Reuters were expecting a profit of a penny a share on revenue of $59.4 million.

The company said it expects 2009 revenue of $196 million to $206 million, and earnings before interest, taxes, depreciation, and amortization of $2 million to $7 million. Three analysts surveyed by Thomson Reuters are expecting a 2009 loss of 22 cents per share on revenue of $215.7 million.

For all of 2008, ICx lost $26.9 million, or 79 cents per share, improving from a loss of $38.3 million, or $2.85 per share, in 2007. Revenue rose 26 percent to $171.7 million from $136.2 million.

Shares of ICx added 15 cents, or 2.8 percent, to $5.60 in aftermarket trading, having closed the regular session at $5.45, down 9 cents.