American Science and Engineering, Inc. Receives $3.4 Million Service and Maintenance Order for ZBVs from the U.S. Government.
The Latest Order Exercises the Final Option of a Multi-Year Contract Valued at $46.2 Million
BILLERICA, Mass. -- American Science and Engineering, Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
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ASEI Australian Student Environment Network
ASEI Application Service Element Invocation ) (AS&E([R])), a leader in X-ray detection technology, announced today the receipt of a $3.4 million order from the U.S. Government for service, support, and spare parts for Z Backscatter Vans (ZBV ZBV Zur Besonderen Verwendung (German: for special use)
ZBV Z Backscatter Van (cargo security screening system)
ZBV Vail/Eagle, CO, USA (Airport Code) ). AS&E was awarded the initial Base Year of the contract in September of 2006 valued at $11.0 million and was awarded Option Year One of the contract in March 2007, valued at $17.5 million. Option Year Two was received in April 2008 and this latest award completes the funding for the multi-year contract with a total value of $46.2 million.
"This valued U.S. Government client continues to rate our service and support group with the highest levels of customer satisfaction," said Anthony Fabiano, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Receipt of the final phase of this multi-year contract ensures that the U.S. Government's ZBVs will continue to operate at the highest levels of performance for their critical counterterrorism coun·ter·ter·ror
Intended to prevent or counteract terrorism: counterterror measures; counterterror weapons.
Action or strategy intended to counteract or suppress terrorism. missions."
AS&E's Z Backscatter Van[TM] (ZBV)
The Most Maneuverable, Versatile Mobile X-ray Detection System on the Market
A breakthrough in X-ray detection technology, AS&E's Z Backscatter Van is the Number One selling non-intrusive mobile inspection system on the market. ZBV is a low-cost, highly mobile screening system built into a commercially available delivery van. The ZBV allows for immediate deployment in response to security threats, and its high throughput capability facilitates rapid inspections. The system's unique "drive-by" capability allows one or two operators to conduct X-ray imaging while the ZBV drives past suspect vehicles and objects. For personnel safety in dangerous environments, a remote console is available for operating the system in stationary mode from a distance of up to 500 meters. To date, AS&E has sold more than 300 Z Backscatter Vans to over 90 customers in 40 countries.
AS&E's Worldwide Service and Support
AS&E's highly skilled Field Service Engineers (FSEs) provide support services worldwide. Each FSE FSE
1. feline spongiform encephalopathy.
2. focal symmetrical encephalomalacia. , with a technical degree in electrical and mechanical engineering or equivalent experience, is trained in the operation and repair of electronics, hydraulics, pneumatics pneu·mat·ics
n. (used with a sing. verb)
The study of the mechanical properties of air and other gases.
Noun , mechanics, electrical systems, and computers. Available 7 days a week, 24 hours a day, FSEs are located at AS&E offices in Asia, Europe, the Middle East, and North America.
American Science and Engineering, Inc. (AS&E) is the leading worldwide supplier of innovative X-ray inspection systems. With 50 years of experience in developing advanced X-ray security systems, the Company's product line utilizes a combination of technologies, including patented Z Backscatter technology, Radioactive Threat Detection (RTD RTD returned to duty (US DoD)
RTD Ready to Drink
RTD Richmond Times-Dispatch
RTD Regional Transportation District
RTD Research, Technological Development
RTD Research and Technology Development
RTD Real-Time Data ), high energy transmission and dual energy transmission X-ray. These technologies offer superior X-ray threat detection for plastic explosives, plastic weapons, liquid explosives, dirty bombs and nuclear devices. AS&E's complete range of products include cargo inspection systems for port and border security, baggage screening systems for facility and aviation security, and personnel and passenger screening systems. AS&E systems protect high-threat facilities and help combat terrorism and trade fraud, drug smuggling, weapon smuggling, and illegal immigration and people smuggling. AS&E customers span more than 40 countries, and include leading government agencies, border authorities, military bases, airports and corporations worldwide, including the U.S. Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security
executive department - a federal department in the executive branch of the government of the United States (DHS DHS Department of Homeland Security (USA)
DHS Department of Human Services
DHS Department of Health Services
DHS Demographic and Health Surveys
DHS Dirhams (Morocco national currency) ), U.S. Department of Defense (DoD), U.S. Customs and Border Protection U.S. Customs and Border Protection (CBP), a bureau of the United States Department of Homeland Security, is charged with regulating and facilitating international trade, collecting import duties, and enforcing U.S. trade laws. (CBP CBP
competitive protein binding. ), North Atlantic Treaty Organization North Atlantic Treaty Organization (NATO), established under the North Atlantic Treaty (Apr. 4, 1949) by Belgium, Canada, Denmark, France, Great Britain, Iceland, Italy, Luxembourg, the Netherlands, Norway, Portugal, and the United States. (NATO NATO: see North Atlantic Treaty Organization.
in full North Atlantic Treaty Organization
International military alliance created to defend western Europe against a possible Soviet invasion. ), HM Revenue & Customs (U.K.) and Hong Kong Customs. For more information on AS&E products and technologies, please visit www.as-e.com.
Safe Harbor Statement. The foregoing press release contains statements concerning AS&E's financial performance, markets and business operations that may be considered "forward-looking" under applicable securities laws. AS&E wishes to caution readers of this press release that actual results might differ materially from those projected in any forward-looking statements. Factors which might cause actual results to differ materially from those projected in the forward-looking statements contained herein include the following: significant reductions or delays in procurements of the Company's systems by the United States and other governments; disruption in the supply of any source component incorporated into AS&E's products; litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.
When a person begins a civil lawsuit, the person enters into a process called litigation. seeking to restrict the use of intellectual property used by the Company; potential product liability claims against the Company; global political trends and events which affect public perception of the threat presented by drugs, explosives and other contraband; global economic developments and the ability of governments and private organizations to fund purchases of the Company's products to address such threats; and the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth, and future delays in federal funding. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in AS&E's periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. AS&E undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.