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American Science And Engineering, Inc. Reports Results For Second Quarter Fiscal Year 2014 And Declares A Quarterly Dividend

  • Earnings per Share Reported at $0.60   
  • Strong Operating Income Margin at 16%  
  • $16.5M of Free Cash Flow

BILLERICA, Mass., Nov. 12, 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 second quarter of fiscal year 2014 ended September 30, 2013. The Company is reporting revenues of $43.8 million as compared with revenues of $46.3 million for the second quarter of fiscal year 2013, net income of $4.7 million as compared with net income of $6.4 million for the second quarter of fiscal year 2013, and earnings per share of $0.60 as compared with earnings per share of $0.76 for the second quarter of fiscal year 2013.

For the first six months of fiscal year 2014 ended September 30, 2013, the Company reported revenues of $86.9 million compared with revenues of $93.6 million for the same period in the prior fiscal year, net income of $9.6 million compared with net income of $10.6 million for the same period in the prior fiscal year, and earnings per share of $1.22 compared with earnings per share of $1.22 for the prior fiscal year.

The Company is reporting $45.8 million in bookings for the second quarter of fiscal year 2014 and $75.7 million for the first half of fiscal year 2014.Backlog at September 30, 2013 was $175.0 million.

"We delivered solid financial performance at current business levels, as evidenced by strong operating income margin, free cash flow, and healthy EPS," said Chuck Dougherty, AS&E's President and Chief Executive Officer. "Additionally, we continued to strengthen our balance sheet with a quarter-end cash balance of $170 million."

Dougherty continued, "I am encouraged with the progress we are making on our key growth initiatives. Of note are the twenty ZBV® systems booked in the second quarter — nineteen of which are with international customers in targeted growth markets — enhancing and expanding our global presence.Our international pipeline, notably for the industry-leading ZBV platform, continues to strengthen."

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