The company reported revenue of $77 million for 2010 third quarter, up 40% from the prior year's $55 million. Net income reported for the quarter was around $12 million, compared with $6 million for the same quarter last year.
Reviewing the performance, Anthony Fabiano, ASEI president and CEO, said, "Our solid performance continues to been driven by strong contributions from our 'big three' business areas -- Cargo Systems, Z Backscatter(TM) Systems, and Field Service. Our bookings in the quarter were marked by breakthrough strategic orders from key customers. These included $34.4 million in orders placed under the $67 million U.S. government IDIQ contract for Z Portal(R) systems that will be deployed on multiple U.S. border crossings."
The stock is trading at 19.1 times its estimated 2011 earnings and has 57% analysts' buy ratings.