ICx Technologies, Inc. (ICXT) Reports Third Quarter Results and Year-End Outlook
Source: http://Blog.QualityStocks.net/?p=13880Posted on Monday, November 17th, 2008 | In Small & Micro Cap
ICx Technologies, Inc. (NASDAQ: ICXT), a developer of advanced sensor technologies for homeland security, force protection and commercial applications, recently announced the company’s financial results for the third quarter ended September 30, 2008. ICx Technologies reported quarterly revenue of $45.0 million, compared to $34.2 million for the corresponding quarter one-year earlier. Net loss for the quarter totaled $0.11 per share, compared to a net loss of $0.95 per share in the third quarter of 2007.
Additionally, the company announced that it has been awarded a system-engineering, analysis and integration contract by the U.S. Army Research and Development Engineering Command Acquisition Center, with an estimated value of up to $711 million over seven years. This Joint Nuclear, Biological, Chemical Reconnaissance System (JNBCRS) is a critical program for the U.S. military and provides joint forces with a toolkit to identify, evaluate and respond to nuclear, chemical and biological threats.
The company’s chairman and chief executive officer, Hans Kobler, recently commented, “This quarter was a special and memorable quarter for us. We have now grown revenues over 30 percent in six out of our last seven quarters.” The company also reconfirmed its earlier guidance for the year ending December 31, 2008, but remains cautious that the forthcoming administration change and weaker economic could lead to results at or near the lower end of the guidance. ICx Technologies expects fiscal year 2008 revenue to range from $177 million to $184 million.
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