SOUTH PASADENA, Calif.–(BUSINESS WIRE)–Cogent Systems (Nasdaq:COGT - News ) today announced financial results for the first quarter ended March 31, 2008. Net income on a GAAP basis for the first quarter of 2008 was $14.4 million, or $0.16 per diluted share. Cogent’s first quarter of 2008 GAAP…