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L-1 Identity Swings to Profit

The company guides its first quarter lower.

Homeland security product maker

L-1 Identity Solutions


swung to a small profit in its fourth quarter but issued first-quarter guidance below analysts' expectations.

The company said net income in the fourth quarter was $2 million, up from a loss of $3 million the year before.

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On a per-share basis, L-1 earned 3 cents a share, a penny more than expectations. That compared with a loss of 15 cents a share the year before.

Revenue jumped to $76.3 million from $15 million the year before. Analysts had expected $77.3 million. The increase came mostly from acquired businesses, including Integrated Biometrics Technology, SecuriMetrics, Iridian Technologies, Identix and SpecTal.

Shares of L-1 were recently up more than 3% to $15.19.

For the first quarter, L-1 expects revenue of $73 million to $75 million and a loss per share in the range of 4 cents to 6 cents. That compares with analysts' expectations of $78.2 million in revenue and earnings of a penny per share.

L-1 reaffirmed its guidance for 2007. The company continues to expect revenue of $330 million to $340 million, compared with analysts' expectations of $340 million.

Earnings per share for the year will come in at 8 cents to 12 cents a share, the company said, against expectations of 11 cents a share.