American Science and Engineering reports sixth consecutive profitable quarter.BILLERICA, Mass.--(BUSINESS WIRE)--Oct. 24, 1996-- Increasing Profit Trend Continues American Science and Engineering Inc. (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 reported profits of $451,000 ($.09 per share) on revenues of $6.7 million in its second fiscal quarter ended Sept. 27, 1996, continuing the growth trend in profits established over the previous five quarters. Through the first two quarters the Company reported profits of $857,000 on revenues of $13.4 million. The profits earned over this six month period exceeds reported profits of $802,000 for the entire fiscal year ended March 29, 1996. Revenue in the second quarter increased 72%, or $2.8 million, over the year-ago period and was equal to the previous quarter ended June 28, 1996. Profits in the current quarter increased 191%, or $296,000, compared to the year-ago quarter and by 11%, or $45,000, compared to the first quarter. Per share profits rose from $.04 in the second quarter of fiscal 1996 to $.09 in the quarter just completed. Ralph S. Sheridan, President and Chief Executive Officer, stated, "Demand for Backscatter X-ray In contrast to the traditional X-ray machine, which detects hard and soft materials by the variation in transmission through the target, backscatter X-ray is a newer imaging system which detects the radiation which comes back from the target. systems continues to grow across all market segments. New bookings were particularly strong for the protection of high risk government facilities, followed by awards from domestic and foreign customs agencies for drug interdiction The interception of illegal drugs being smuggled by air, sea, or land. See also counterdrug operations. efforts. "During the quarter, significant milestones were achieved in AS&E's family of cargo and vehicle inspection systems. The first PalletSearch system for high security freight and air cargo air cargo: see aviation. inspection was successfully installed and received customer acceptance in September. Work was begun under a $2.7 million contract received during the quarter for a second MobileSearch system capable of providing flexible, rapid deployment for the detection of drugs and contraband contraband, in international law, goods necessary or useful in the prosecution of war that a belligerent may lawfully seize from a neutral who is attempting to deliver them to the enemy. in vehicles. This second system will incorporate upgrades to enhance both the operating and detection features. Work continues on schedule for three CargoSearch systems ordered by US Customs in January." AS&E develops and manufactures sophisticated X-ray X-ray Electromagnetic radiation of extremely short wavelength (100 nanometres to 0.001 nanometre) produced by the deceleration of charged particles or the transitions of electrons in atoms. inspection products for critical detection and security applications. AS&E's patented Z 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 detects plastic explosives plastic explosive n. A versatile explosive substance in the form of a moldable doughlike solid, used in bombs detonated by fuse or electrical impulse. Also called plastique. , illegal drugs, and other contraband, even when artfully concealed con·ceal tr.v. con·cealed, con·ceal·ing, con·ceals To keep from being seen, found, observed, or discovered; hide. See Synonyms at hide1. in complex backgrounds by terrorists and smugglers.
American Science and Engineering Inc.
Consolidated Financial Summary
(Dollars and shares in thousands, except per share amounts)
(Unaudited)
Three Months Ended Six Months Ended
Sept. 27, Sept. 29, Sept. 27, Sept. 29,
1996 1995 1996 1995
Net sales and contract
revenue $6,685 $3,882 $13,384 $7,399
Operating income 533 215 981 265
Other expense (63) (60) (85) (58)
Income before provision
for income taxes 470 155 896 207
Provision for income 19 -- 39 --
taxes
Net income $ 451 $ 155 $ 857 $ 207
Income per common share $ .09 $ .04 $ .18 $ .05
Shares used in income
per share calculations 4,891 4,409 4,801 4,292
The results of operations reported herein may not be indicative of
future financial conditions or results of future operations.
CONTACT: American Science and Engineering Inc. Jeffrey Bernfeld or Lee Steele Lee Steele (born in Liverpool on December 7, 1973) is an English professional footballer who currently plays for Northwich Victoria whom he joined from Chester City in July 2007. , 508/262-8700 |
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