The other answers with regex and splitting the line will get the job done, but if you want a fully maintainable solution that will grow with you, you should build a grammar. I love pyparsing for this:
S ='''
7:06:32 (slbfd) IN: "lq_viz_server" aqeela@nabltas1
7:08:21 (slbfd) UNSUPPORTED: "Slb_Internal_vlsodc" (PORT_AT_HOST_PLUS ) Albahraj@nabwmps3 (License server system does not support this feature. (-18,327))
7:08:21 (slbfd) OUT: "OFM32" Albahraj@nabwmps3'''
from pyparsing import *
from collections import defaultdict
# Define the grammar
num = Word(nums)
marker = Literal(":").suppress()
timestamp = Group(num + marker + num + marker + num)
label = Literal("(slbfd)")
flag = Word(alphas)("flag") + marker
name = QuotedString(quoteChar='"')("name")
line = timestamp + label + flag + name + restOfLine
grammar = OneOrMore(Group(line))
# Now parsing is a piece of cake!
P = grammar.parseString(S)
counts = defaultdict(int)
for x in P:
if x.flag=="IN": counts[x.name] += 1
if x.flag=="OUT": counts[x.name] -= 1
for key in counts:
print key, counts[key]
This gives as output:
lq_viz_server 1
OFM32 -1
Which would look more impressive if your sample log file was longer. The beauty of a pyparsing solution is the ability to adapt to a more complex query in the future (ex. grab and parse the timestamp, pull email address, parse error codes...). The idea is that you write the grammar independent of the query - you simply convert the raw text to a computer friendly format, abstracting away the parsing implementation away from it's usage.