BILLERICA, Mass. – July 31, 2014 – 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 first quarter fiscal year 2015 ended June 30, 2014. The Company reported revenues of $35.5 million as compared with revenues of $43.1 million for the first quarter of fiscal year 2014, net income of $1.5 million as compared with net income of $4.9 million for the first quarter of fiscal year 2014, and earnings per share of $0.18 as compared with earnings per share of $0.62 for the first quarter of fiscal year 2014.
The Company reported $22.3 million in bookings for the first quarter of fiscal year 2015 as compared with $29.9 million in bookings for the first quarter of the prior fiscal year. Backlog at June 30, 2014 was $162.9 million.
The Company is declaring a quarterly cash dividend of $0.50 per share, payable on September 3, 2014 to the holders of record at the close of business on August 20, 2014.
“While we continue to make significant progress on our long-term strategic growth initiatives, we are still experiencing quarter-to-quarter volatility,” said Chuck Dougherty, AS&E’s President and Chief Executive Officer. “Escalating conflicts in the Middle East delayed both shipments and anticipated bookings in the quarter. Our pipeline, however, is substantial and continues to steadily grow. The successful introduction of our breakthrough MINI Z™ portable screening system, the launch of a new North American Public Safety channel, and other strategic initiatives now underway will continue to help us leverage our technology leadership to expand the application reach of our offerings into targeted markets.”
Chuck Dougherty, President and Chief Executive Officer, and Ken Galaznik, Senior Vice President, Chief Financial Officer and Treasurer, will host a conference call and simultaneous webcast to discuss the results and respond to questions. The conference call and webcast will include a presentation and are scheduled forThursday, July 31, 2014 at 8:30 a.m. ET.
To participate in the conference call, please dial 1-877-303-9143 at least 10 minutes prior to its starting time. For international participants, please dial +1-760-536-5194. The conference identification number is76073890. You will be placed on hold until the conference call is ready to begin. The live webcast and presentation can be accessed through the investor relations section of the Company’s website at http://ir.as-e.com/events.cfm.
An audio replay of the teleconference will be available, in its entirety, starting Thursday, July 31, 2014 at 11:30 a.m. ET for a one-week period by dialing 1-855-859-2056. Internationally, please dial +1-404-537-3406. The conference identification number is 76073890. The replay and presentation will also be available through the Company’s web site at http://ir.as-e.com/events.cfm.