Iverson Technology Corp. of McLean, one of the key local players in the fast-growing field of Tempest technology, said yesterday that its profit and revenue more than doubled in the third quarter.
Tempest technology is used to protect computers and other electronic equipment from electronic surveillance.
Iverson said it earned $1.2 million (31 cents a share) in the third quarter, up 109 percent from $563,000 (16 cents) a year ago. Revenue increased 122 percent, to $13.7 million from $6.2 million.
The company said the huge increases were due to early delivery of products on a $133 million contract with the FBI.
Iverson also said it is ahead of schedule on developing Tempest technology for the recently introduced International Business Machines Corp. PS/2 personal computer line.
For the nine months ended Sept. 30, the company said it earned $2.3 million (61 cents), a 47 percent increase from $1.6 million (43 cents) a year ago. Revenue increased 60 percent in the nine months, to $26 million from $16.2 million.
Comnet Corp. of Washington said its second-quarter profit rose 80 percent, to $453,000 (16 cents) from $251,000 (10 cents) a year ago.
Revenue for the diversified computer software, services and communications company was $11.2 million in the second quarter, up 10 percent from $10.2 million a year ago.
The company said its first-half profit was $855,000 (32 cents), more than double the $391,000 (16 cents) earned by Comnet in last year's first half. Revenue in the half rose 11 percent, to $21.4 million from $19.3 million.
Morino Associates Inc., a Vienna-based computer software firm, said it earned $1.6 million (15 cents) in the first quarter ended Sept. 30, up 44 percent from $1.1 million (12 cents) a year ago. Revenue increased 33 percent in the period, to $9.2 million from $6.9 million, the firm said.