IT security solutions company Senetas (ASX:SEN) says that it remains on track for a full year net profit before tax of grater than $11 million after announcing $1.2 million net profit before tax on revenues of $7.2 million for the half year to 31 december 2005.

According to Senetas, the net profit before tax was affected by one off charges  and additional outsourced costs. These costs amounted to approximately $550,000. In addition the company had expected to be able to book a multi million dollar sale prior to 31 December 2005 which will now be delivered this quarter.

On a normalised basis the company’s net profit before tax would have been approximately $3 million, according to Senetas.

Senetas the results are in line with previously advised guidance.