STAMFORD, Conn.—L-1 Identity Solutions Inc. said Wednesday that its first-quarter loss narrowed, helped by revenue that rose about 66 percent with strength in its secure credentialing business.
For the quarter that ended March 31, the identification cards and credentials producer reported a loss of $1.9 million, or 3 cents per share, compared with a loss of $8.8 million, or 12 cents per share, in the year-ago quarter.
Revenue rose to $116 million from $70 million.
Analysts polled by Thomson Financial expected a loss of 4 cents per share on $114.2 million in revenue. The estimates typically exclude special items.
L-1 said its secure credentialing business contributed strongly to the quarter's results, followed by sales from its intelligence and fingerprinting services businesses.
The company also reported a $1.5 million income tax benefit, compared with a $1.1 million provision for taxes last year.
L-1 shares fell 16 cents to $14.36 in late morning trading.
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