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For Cogent, deferred revenue is key

|Includes: Fluent, Inc. (FLNT), TECH

Sagem expected to be awarded the FBI Next-Generation Identification contract. More importantly as of December 31, Cogent has a backlog of $168M and deferred revenue of $75M. Backlog and deferred revenue do not include any orders received in 2009 or contributions from DOD Boss-U, UK Post Office, and Belgium Police.