EXHIBIT 99.1

FOR IMMEDIATE RELEASE

AMERICAN SCIENCE AND ENGINEERING, INC.
REPORTS REVENUE AND INCOME FOR FOURTH QUARTER AND
FISCAL YEAR 2007

AS&E’s Board of Directors Approves Stock Repurchase Program and Quarterly Dividend Plan for FY’08

BILLERICA, Mass. May 21, 2007

American Science and Engineering, Inc. (NASDAQ: ASEI) (AS&E®), today reported its financial results for the fourth quarter and fiscal year ended March 31, 2007. The Company reported revenues of $45,919,000, net income of $5,790,000, and net income per share of $0.60 for the fourth quarter fiscal year 2007.  This represents a 13% increase in revenues and a $0.09 increase in net income per share when compared to the fourth quarter of the prior fiscal year.

The current quarter earnings per share were impacted by the recording of stock compensation expense which resulted in a charge of $2,125,000 after income taxes, or $0.23 per share in the fourth quarter fiscal year 2007.

The Company reported $189,980,000 in bookings for fiscal year 2007 versus $160,346,000 in the prior fiscal year.  Backlog for fiscal year 2007 increased 53% to $105,634,000 as compared to the prior fiscal year.

For fiscal year 2007, the Company reported revenues of $153,186,000, net income of $24,610,000, and net income per share of $2.38.  This represents a 6% decrease in revenues and a $0.89 decrease in net income per share when compared to the prior fiscal year.

The fiscal year 2007 earnings per share were impacted by the recording of stock compensation expense which resulted in a charge of $7,454,000 after income taxes, or $0.80 per share in the fiscal year 2007.

“AS&E has successfully completed year-three of our turnaround plan with solid results,” said Anthony Fabiano, AS&E’s President and CEO. “Fiscal year 2007 was extremely productive and we continue to strengthen our foundation, expand our product offerings, and make significant in-roads with strategic customers. We have made substantial progress in expanding domestic and international markets and sales channels — international orders and revenue continue to increase across all product lines, and we expect this trend to continue into fiscal year 2008.”

Fabiano continued, “Overall bookings were boosted by the continued diversification of our customer base and orders from an increased product mix including the high-throughput Z Portal cargo screening system, the OmniView Gantry system, and the Gemini baggage inspection system. With these key products, we are winning competitive bids and gaining market share while we are achieving goals in strategic growth areas with multiple bookings to important clients, including NATO and DoD. Based on the continued success of our Z® Backscatter Systems, multiple customer-driven product offshoots are in the works utilizing our proprietary Z Backscatter technology on multiple platforms for Homeland Security and DoD.  With our increased sales penetration initiative, substantial growth in product offerings, and increased customer awareness about AS&E’s competitive advantages in the marketplace, we are confident and excited about the opportunities that lie ahead in fiscal year 2008.”

At a recent meeting of the Board of Directors, a Stock Repurchase Program was approved which authorizes the Company to repurchase up to $35 million of shares of its common stock from time to time on the open market.  Repurchases under this program will be made from the Company’s existing cash balances and the shares will be returned to the status of authorized but unissued shares of common stock.

“We believe our stock is a solid investment. This program is a reflection of our confidence in the future value of the stock, as well as the Company’s ability to continue to generate cash flows — both which will meet the requirements of our growth plans,” said Anthony Fabiano, President and CEO of AS&E.

-more-



The following information was filed by American Science Engineering, Inc. (ASEI) on Tuesday, May 22, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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