EXHIBIT 99.1

 

American Science and Engineering, Inc. Reports Results for

Fourth Quarter and Fiscal Year 2015

 

·                  Revenue for Fourth Quarter reported at $31.2 million

·                  Bookings for Fourth Quarter reported at $31.3 million

·                  Repurchased 359,628 Shares in the Quarter for $17.7 Million Under Current Stock Repurchase Program

·                  Company Declaring Quarterly Dividend of $0.50 per share

·                  200 MINI Z® Systems Ordered for the Chinese Market Opening New Markets for Z Backscatter® Technology

 

BILLERICA, Mass. — May 11, 2015 —

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, 2015. The Company reported revenues of $31.2 million as compared with revenues of $65.6 million for the fourth quarter of fiscal year 2014, net income of $0.9 million as compared with net income of $4.0 million for the fourth quarter of fiscal year 2014, and earnings per share of $0.12 as compared with earnings per share of $0.50 for the fourth quarter of fiscal year 2014.

 

For the fiscal year ended March 31, 2015, the Company reported revenues of $126.8 million as compared with revenues of $190.2 million for the prior fiscal year, net income of $1.0 million as compared with net income of $15.1 million for the prior fiscal year, and earnings per share of $0.13 as compared with earnings per share of $1.91 for the prior fiscal year.

 

The Company reported $31.3 million in bookings for the fourth quarter of fiscal year 2015 as compared with $60.8 million in bookings for the fourth quarter of the prior fiscal year and $88.9 million in bookings for the fiscal year ended March 31, 2015 as compared with the $180.2 million in bookings for the prior fiscal year. Backlog at March 31, 2015 was $138.3 million.

 

The Company’s Board of Directors has declared a quarterly cash dividend of $0.50 per share, payable on June 3, 2015 to the holders of record of the Company’s common stock at the close of business on May 26, 2015.  As previously reported on December 1, 2014, the Company’s Board of Directors approved an expansion of the stock repurchase authorization from $35.0 million to $50.0 million. The Company repurchased 359,628 of its common stock in the quarter for $17.7 million, with a remaining balance of $13.5 million available under the program.

 

“Fiscal year 2015 was a challenging year for AS&E; while we did not produce the financial results we anticipated, we remain confident in the strength of our active opportunity pipeline and we continue to make meaningful progress on our strategic initiatives,” said Chuck Dougherty, AS&E’s President and CEO. “Regarding our portfolio expansion efforts, the growing adoption of the award-winning MINI Z handheld imaging system enabled us to penetrate targeted geographic and vertical markets, expanding penetration for our Z Backscatter technology. For example, we were pleased to receive an order for 200 MINI Z systems for public safety customers in China, our largest single MINI Z order to date. In support of our geographic expansion efforts, we have successfully upgraded and added new channel partners, as well as added direct sales and service resources in key growth markets. Our high-performing service business continues to produce exceptional customer satisfaction ratings, which is driving the expansion of our service offerings.”

 

Dougherty continued, “Looking ahead, we remain committed to improving results by continuing to reduce operating costs while at the same time enhancing shareholder value by driving the execution of our strategic plan, closely assessing progress, and making course corrections as necessary.”

 


The following information was filed by American Science Engineering, Inc. (ASEI) on Monday, May 11, 2015 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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