EXHIBIT 99.1

 

American Science and Engineering, Inc. Reports Results for

Fourth Quarter and Fiscal Year 2014

 

·                  Revenue for Fourth Quarter reported at $65.6M

·                  Bookings for Fourth Quarter reported at $60.8M

·                  94 ZBVs Booked in the Fiscal Year

·                  Company Declaring Quarterly Dividend of $0.50 per share

 

BILLERICA, Mass. — May 22, 2014 —

American 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, 2014. The Company reported revenues of $65.6 million as compared with revenues of $42.3 million for the fourth quarter of fiscal year 2013, net income of $4.0 million as compared with net income of $0.8 million for the fourth quarter of fiscal year 2013, and earnings per share of $0.50 as compared with earnings per share of $0.09 for the fourth quarter of fiscal year 2013.

 

For the fiscal year ended March 31, 2014, the Company reported revenues of $190.3 million as compared with revenues of $186.7 million for the prior fiscal year, net income of $15.1 million as compared with net income of $17.5 million for the prior fiscal year, and earnings per share of $1.91 as compared with earnings per share of $2.07 for the prior fiscal year.

 

The Company reported $60.8 million in bookings for the fourth quarter of fiscal year 2014 as compared with $8.8 million in bookings for the fourth quarter of the prior fiscal year and $180.2 million in bookings for the fiscal year ended March 31, 2014 as compared with the $180.3 million in bookings for the prior fiscal year. Backlog at March 31, 2014 was $176.1 million.

 

The Company is declaring a quarterly cash dividend of $0.50 per share, payable on June 9, 2014 to the holders of record at the close of business on June 2, 2014.

 

“Geographic expansion was a strong contributor to our FY’14 results, with 50% of total revenue and 73% of total bookings from international customers — up significantly from 34% and 42%, respectively, in FY’13,” said Chuck Dougherty, AS&E’s President and Chief Executive Officer.  “We recorded solid revenue and bookings for the fiscal year, with increases in the Cargo, Mobile, and Parcel product areas, a notable achievement in light of the challenges arising from the tightening of U.S. defense and homeland security budgets and accelerated troop drawdown in war zones.”

 

Chuck Dougherty, President and Chief Executive Officer, and Ken Galaznik, Senior Vice President, Chief Financial Officer and Treasurer, will host a conference call and simultaneous webcast to discuss the results and respond to questions.  The conference call and webcast will include a presentation and are scheduled for Thursday, May 22, 2014 at 8:30 a.m. ET.

 

To participate in the conference call, please dial 1-877-303-9143 at least 10 minutes prior to its starting time. For international participants, please dial 1-760-536-5194. The conference identification number is 34410908. You will be placed on hold until the conference call is ready to begin.  The live webcast and presentation can be accessed through the investor relations section of the Company’s website at http://ir.as-e.com/events.cfm.

 

An audio replay of the teleconference will be available, in its entirety, starting Thursday, May 22, 2104 at 11:30 a.m. ET for a one-week period by dialing 1-855-859-2056. Internationally, please dial 1-404-537-3406. The conference identification number is 34410908. The replay and presentation will also be available through the Company’s web site at http://ir.as-e.com/events.cfm.

 


The following information was filed by American Science Engineering, Inc. (ASEI) on Thursday, May 22, 2014 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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