TEXT EXHIBIT 99.1

 

FOR IMMEDIATE RELEASE

 

American Science and Engineering, Inc. Reports Double Digit Growth in Revenue,

Net Income and EPS for Fourth Quarter and Fiscal Year 2009

 

AS&E’s Board of Directors Approves Quarterly Dividend

 

BILLERICA, Mass. May 13, 2009American Science and Engineering, Inc. (NASDAQ: ASEI) (AS&E®), a leading worldwide supplier of innovative X-ray inspection solutions, today reported its financial results for the fourth quarter and fiscal year ended March 31, 2009. The Company reported revenues of $57,290,000 as compared with revenues of $42,020,000 for the fourth quarter of fiscal year 2008, net income of $8,244,000 as compared with net income of $2,789,000 for the fourth quarter of fiscal year 2008, and earnings per share of $0.92 as compared with earnings per share of $0.30 for the fourth quarter of fiscal year 2008. These results represent a 36% increase in revenues, 196% increase in net income, and a $0.62 increase in earnings per share when compared to results for the fourth quarter of the prior fiscal year.

 

For the fiscal year ended March 31, 2009, the Company reported record revenues of $218,367,000, which represents an increase of 31% as compared with revenues of $166,733,000 for the prior fiscal year, net income of $28,353,000 as compared with net income of $17,478,000 for the prior fiscal year, and earnings per share of $3.18 which represents a $1.31 increase in earnings per share as compared with earnings per share of $1.87 for the prior fiscal year.

 

The Company reported $59,257,000 in bookings for the fourth quarter of fiscal year 2009 as compared with $16,129,000 in bookings for the fourth quarter of the prior fiscal year and $274,094,000 in bookings for fiscal year 2009 as compared with $160,705,000 in bookings for the prior fiscal year. Backlog at March 31, 2009 increased 56% to $155,349,000 as compared to $99,606,000 in the prior fiscal year.

 

“We completed fiscal year 2009 with outstanding financial and operating results,” said Anthony Fabiano, AS&E’s President and CEO. “We met our strategic initiatives for the year and recorded the highest revenue in Company history — with the cargo, Z Backscatter, and service product areas all recording double digit increases. To improve our bottom-line, we implemented several product and process improvements, and operating cost reductions — increasing gross margin to 43% from 36% in the prior year. Additionally, we increased IRAD investment 47% from the last fiscal year resulting in the introduction of several new products and product enhancements.”

 

Fabiano continued, “As we continued our investment in global marketing and sales activities, we achieved a record $274 million in bookings for the year with international product bookings increasing 59% from the prior fiscal year. Overall bookings were boosted by the continued diversification of our customer base — including new orders for military, law enforcement, critical infrastructure, and port and border security. Our sales pipeline has increased from the prior year with new opportunities in the U.S, Middle East, APAC, Latin America, and Europe. With our increased sales penetration, new product offerings, and increased awareness of AS&E’s proprietary technologies, we are confident in our abilities to provide best-in-class products and services for the growing security market in fiscal year 2010 and beyond.”

 

The Company is declaring a quarterly cash dividend of $0.20 per share, payable on June 4, 2009 to the holders of record at the close of business on May 26, 2009.

 

-continued-

 


The following information was filed by American Science Engineering, Inc. (ASEI) on Friday, May 15, 2009 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.

View differences made from one year to another to evaluate American Science Engineering, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by American Science Engineering, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account