In the first quarter ended March 31, SafeNet posted profits of $1.23 million (5 cents per diluted share) compared with a loss of $456,000 (3 cents) a year earlier. Diluted earnings include the value of convertible warrants and stock options.
Sales for the quarter more than doubled to $59.8 million from $24 million in the comparable 2004 period.
By John Solomon
How the government's punishing of the exposure of official wrongdoing can linger for years
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