(RTTNews) -  Wednesday, L-1 Identity Solutions Inc. (ID: News ) said its third-quarter net income was $1.37 million or $0.02 per share compared with a loss of $1.91 million or $0.02 per share in the prior year period. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share for the quarter.

Revenue for the quarter increased 12% to $172.5 million from $154.5 million in the comparable period. Analysts estimated revenues of $178.04 million for the quarter.

The company expects fourth-quarter earnings per share to be in the range of $0.04 - $0.06. Earnings per share, exclusive of stock based compensation for the quarter, are projected to be in the range of $0.08 - $0.10. Revenue for the fourth quarter are anticipated to be in the range of $180.0 million - $190.0 million. Seven analysts estimate earnings of $0.09 per share on revenues of $210.60 million for the quarter.
The company currently anticipates full-year earnings per share of $0.06 - $0.08, excluding charges relating to Registered Traveler, financing costs and adoption of new accounting standards. Earnings per share, exclusive of stock based compensation, are now expected to be in the range of $0.19 - $0.21 for the year. Earlier, the company expected earnings exclusive of certain items to be $0.06 - $0.12 per share and earnings excluding stock based compensation in the range of $0.17 - $0.24 per share.

L-1 now projects full-year revenue to be in the range of $670.0 million - $680.0 million, down from the previously anticipated range of $700.0 million - $725.0 million. Seven analysts estimate earnings of $0.05 per share on revenues of $706.84 million for the year 2009.

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by RTT Staff Writer

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