Identix Warns of Weaker Third Quarter

The security company sees lower-than-expected results due to its government services business.

Author:: Michael Dunn
Publish date:: Apr 17, 2002 9:37 AM EDT

Identix

(IDNX)

warned that it would see a larger-than-expected third-quarter loss on weaker revenue.

The fingerprinting company said its third-quarter loss will be in the range of 16 cents to 17 cents a share, compared with the company's previous guidance of 12 cents to 15 cents. Analysts were expecting a loss of 13 cents a share, according to Thomson Financial/First Call.

The company also said its revenue would be weaker, coming in at the lower end of its previous guidance of $19.0 million to $20.5 million. First Call analysts were expecting $20.3 million.

Identix said the shortfall was due to lower-than-expected government services revenue and higher expenses, but said its security revenue would remain strong, coming in well ahead of previous guidance.

Shares of Identix were recently down 4.1% to $7.98 on the warning after closing at $8.32 Tuesday.