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TheStreet Open House

American Science And Engineering, Inc. Reports Results For Third Quarter Fiscal Year 2013 And Declares A Quarterly Dividend

Stock quotes in this article: ASEI

  • Year to Date Bookings Up 9% From Same Period Last Year
  • Backlog Up 5% From Same Period Last Year
  • Q3 FY13 Earnings Per Share of $0.73

BILLERICA, Mass., Feb. 11, 2013 (GLOBE NEWSWIRE) --   American Science and Engineering, Inc. (Nasdaq:ASEI) ("AS&E"), a leading worldwide supplier of innovative X-ray detection solutions, today reports its financial results for the third quarter of fiscal year 2013 ended December 31, 2012. The Company is reporting revenues of $50,803,000 as compared with revenues of $57,907,000 for the third quarter of fiscal year 2012, net income of $6,093,000 as compared with net income of $7,535,000 for the third quarter of fiscal year 2012, and earnings per share of $0.73 as compared with earnings per share of $0.84 for the third quarter of fiscal year 2012.

For the first nine months of fiscal year 2013 ended December 31, 2012, the Company reported revenues of $144,400,000 compared with revenues of $163,788,000 for the same period in the prior fiscal year, net income of $16,694,000 compared with net income of $20,079,000 for the same period in the prior fiscal year, and earnings per share of $1.95 compared with earnings per share of $2.18 for the prior fiscal year.

The Company is reporting $48,243,000 in bookings for the third quarter of fiscal year 2013 as compared with $55,813,000 in bookings for the third quarter of the prior fiscal year. For the first nine months of fiscal year 2013 the Company reported bookings of $171,539,000 as compared with bookings of $157,617,000 for the same period of the prior fiscal year. Backlog at December 31, 2012 was $219,710,000 as compared with $209,057,000 at December 31, 2011.

"Global economic uncertainties continue to impact spending in our sector – affecting us and our competitors with lower business volumes for products," commented Anthony Fabiano, AS&E's President and Chief Executive Officer.   "During fiscal 2013, in light of these uncertainties, we initiated a number of cost-saving measures realigning our organization structures, streamlining business processes, and scrutinizing our operating expenses and were successful in reducing overall costs.  As we prepare for fiscal 2014, we will be implementing further cost-cutting measures, including a reduction in workforce, focused on right-sizing our organization to address this continuing uncertain demand."              

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