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Applied Signal 2nd-qtr Profit More Than Doubled

Stock quotes in this article: APSG  

SUNNYVALE, Calif. (AP) — Applied Signal Technology Inc. said Tuesday its profit more than doubled in the fiscal second quarter as demand for its intelligence, surveillance and reconnaissance products grew.

Applied Signal said it earned $4.1 million, or 31 cents per share, compared with $2 million, or 16 cents per share, in the second quarter of 2008. Its revenue rose 18 percent to $53.5 million from $45.3 million.

The results exceeded Wall Street estimates. Thomson Reuters says analysts expected a profit of 20 cents per share and $49 million in revenue for the quarter ended May 1. ...

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