- Associated Press - Tuesday, August 31, 2010

SUNNYVALE, CALIF. (AP) - Applied Signal Technology Inc., a maker of intelligence and surveillance products, said Tuesday that its fiscal third-quarter profit increased as revenue from its network intelligence unit rose.

For the May-July quarter, Applied Signal earned $3.6 million, or 26 cents per share, compared with $3.3 million, or 25 cents per share, in the same quarter last year.

Analysts polled by Thomson Reuters expected a profit of 22 cents per share.

Revenue climbed 14 percent to $56.4 million from $49.5 million last year, but missed analyst estimates for $60.6 million.

The company also said it now thinks its revenue for the full fiscal year will be near the lower end of its outlook of $223 million to $233 million.

Analysts are expecting $229.7 million in fiscal 2010 revenue.

Applied Signal shares fell 32 cents, or 1.6 percent, to $19.30 in after-hours trading, after finishing regular trading up 5 cents at $19.62.

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