EXHIBIT 99.1

 

For Immediate Release

 

American Science and Engineering, Inc. Reports Results for

Fourth Quarter and Fiscal Year 2016 and Declares Quarterly Dividend

 

·                  Net loss of $2.7 million for fourth quarter includes a charge of $1.3 million (equal to $0.12 earnings per share) related to previously announced cost containment actions.

·                  Net loss of $3.2 million for fiscal year 2016 includes $3.1 million of charges (equal to $0.26 earnings per share) related to the corporate realignment and cost containment actions which occurred during the year.

·                  Free cash flow of $6.8 million in fiscal year 2016 vs. ($13.7) million in fiscal year 2015, defined as cash flow from operations less capital expenditures.

·                  Year-to date bookings for fiscal year 2016 increased by 35% to $121.0 million vs. $89.6 million in fiscal year 2015; book-to-bill ratio of 1.17 for fiscal year 2016.

·                  Backlog at the end of fiscal year 2016 increased by 11% to $154.1 million vs. $138.3 million at the end of fiscal year 2015.

·                  Quarterly dividend declared of $0.50 per share, payable on June 1, 2016.

 

BILLERICA, Mass. — May 9, 2016 — 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, 2016. The Company reported revenues of $24.2 million as compared with revenues of $31.2 million for the fourth quarter of fiscal year 2015, a net loss of $2.7 million compared with net income of $0.9 million for the fourth quarter of fiscal year 2015, and a loss per share of $0.38, inclusive of a $1.3 million charge (equal to $0.12 earnings per share) related to the cost containment action taken in the quarter as compared with earnings per share of $0.12 for the fourth quarter of fiscal year 2015.

 

For the fiscal year ended March 31, 2016, the Company reported revenues of $103.0 million as compared with revenues of $126.8 million for the prior fiscal year, a net loss of $3.2 million, inclusive of $3.1 million of charges (equal to $0.26 earnings per share) related to the corporate realignment and cost containment actions which occurred in fiscal year 2016, compared with net income of $1.0 million for the prior fiscal year, and a loss per share of $0.45 as compared with earnings per share of $0.13 for the prior fiscal year.

 

The Company reported $24.0 million in bookings for the fourth quarter of fiscal year 2016 as compared with $31.3 million in bookings for the fourth quarter of the prior fiscal year, and $121.0 million in bookings for the fiscal year ended March 31, 2016 as compared with $89.6 million in bookings for the prior fiscal year, representing a 35% increase. Backlog on March 31, 2016 was $154.1 million as compared to $138.3 million on March 31, 2015.

 

“We achieved strong year-over-year increases in bookings and backlog and returned to positive free cash flow in fiscal year 2016,” commented Chuck Dougherty, AS&E’s President and Chief Executive Officer. “Organic investment has enabled us to complete an extensive revitalization of our product portfolio to expand the application reach of our technology and strengthen our family of solutions by leveraging multiple, complementary technologies.”

 

Dougherty continued, “Although external factors continued to adversely impact our results throughout the year, we responded by reducing operating expenses to align with the size and composition of the business. We believe that these cost containment actions — combined with the growth in bookings, the strength of our backlog, and our revitalized product and services portfolio — position us well to return to profitability as we enter fiscal year 2017. We remain committed to enhancing shareholder value and improving our results by managing operating costs and

 


The following information was filed by American Science Engineering, Inc. (ASEI) on Monday, May 9, 2016 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