American Science and Engineering, Inc. Announces Receipt of $3.8 Million MobileSearch Order.BILLERICA, Mass.--(BUSINESS WIRE)--Sept. 19, 1997-- American Science and Engineering, Inc. (AMEX AMEX See: American Stock Exchange :ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ) today announced the receipt of a $3.8 million order for two MobileSearch(TM) X-ray inspection trucks from the U.S. Department of Defense - Counterdrug Technology Development Program. These mobile inspection systems are being funded to provide technology based tools to U.S. Customs for interdicting drugs hidden in vehicles and cargo at the border crossings. These are advanced prototype MobileSearch(TM) systems funded by the Department of Defense and will be delivered within 16 months. In addition, the contract calls for further development work that is expected to double the capacity of the system. The contract allows the government the option to purchase up to four additional MobileSearch(TM) systems. Ralph S. Sheridan, AS&E's 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. , commented that "MobileSearch(TM) is a unique product whose flexibility, detection capabilities and price should prove attractive to customs and defense agencies around the world. The first unit is successfully patrolling the Southwest border with Mexico to detect smuggled smug·gle v. smug·gled, smug·gling, smug·gles v.tr. 1. To import or export without paying lawful customs charges or duties. 2. To bring in or take out illicitly or by stealth. drugs. The second unit, which incorporates transmission X-ray capability to supplement our proprietary Z(R) Backscatter backscatter in radiology, radiation deflected by scattering processes at angles greater than 90 degrees to the original direction of the beam of radiation. Important in radiotherapy when estimating surface exposure dose. technology, will be delivered next quarter." AS&E develops and manufactures sophisticated X-ray inspection products for critical detection and security applications. AS&E's patented Z(R) Backscatter technology detects plastic explosives, illegal drugs, and other contraband, even when artfully concealed in complex backgrounds by terrorists and smugglers. -0- Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement The foregoing press release contains statements concerning the Company's financial performance and business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets which may be considered "forward-looking" under applicable securities laws. The Company 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Government; disruption in the supply of any sole-source component incorporated into the Company's products (of which there are several); 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; 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. These and certain other factors which might cause actual results to differ materially from those projected are more fully set forth under the caption "Risk Factors" in the Company's Registration Statement on Form S-3 (SEC File No. 333-9151). CONTACT: American Science and Engineering, Inc. Jeffrey Bernfeld or Lee Steele, 978/262-8700 |
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