Managing Partner Kelly G. Richardson said Douglas has become a real asset to the organization during the five years he has been with the firm.

His practice areas include business, real estate and construction defect litigation, financial institutions and banking, commercial lending and common interest development law.

Cogent shares fall on lower guidance PASADENA - Shares of fingerprinting-device maker Cogent Inc. fell Thursday after the company's 2009 outlook disappointed investors.

The company, which reported a 49 percent jump in its fourth- quarter profit as demand from the U.S. and U.K. governments grew, on Wednesday said it expects adjusted earnings of 34 cents to 38 cents per share for 2009 excluding stock options costs, on sales of about $130 million.

Analysts, on average, expect a profit of 56 cents per share on sales of $153.6 million, according to a poll by Thomson Reuters.

"While this was an in-line quarter we are disappointed with the low guidance for 2009," wrote Morgan Keegan analyst Brian W. Ruttenbur in a note to investors. He rates Cogent "Outperform."

"We believe management is being very conservative and sees potential upside over the coming year from contracts not included in guidance as well as potential new (contract) wins," the analyst added.

Cogent shares closed down 91 cents, or 8.26 percent, Thursday to $10.11. The stock has traded in a 52-week range of $7.88 and $14.40.

As part of the recently-passed state budget, California enacted a $10,000 state tax credit for individuals who purchase a new, previously unoccupied home (5% of the purchase price of the new home, up to $10,000). With enactment of the California homebuyer tax credit, the Governor and the Legislature are encouraging reluctant, wait-and-see homebuyers that the time to return to housing markets is now.

(c) 2009 San Gabriel Valley Tribune. Provided by ProQuest LLC. All rights Reserved.

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