Earnings per Share Reported at $0.62, a 32% Increase Year-Over-Year
Strong Operating Income Margin at 17%
Completed Fourth $35 Million Share Repurchase Plan
BILLERICA, Mass., Aug. 5, 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 first quarter of fiscal year 2014 ended June 30, 2013. The Company is reporting revenues of $43,084,000 as compared with revenues of $47,344,000 for the first quarter of fiscal year 2013, net income of $4,865,000 as compared with net income of $4,202,000 for the first quarter of fiscal year 2013, and earnings per share of $0.62 as compared with earnings per share of $0.47 for the first quarter of fiscal year 2013. The Company is reporting $29,914,000 in bookings for the first quarter of fiscal year 2014 as compared with $41,634,000 in bookings for the first quarter of the prior fiscal year. Backlog at June 30, 2013 decreased 7% to $173,031,000 as compared to the backlog of $186,861,000 at June 30, 2012. "I am pleased with the operational performance of the business reflected in the year-over-year improvement in EPS and operating income on reduced revenues," said Chuck Dougherty, AS&E's President and Chief Executive Officer. "While we continue to see some short-term order volatility, we are encouraged by the positive trends we see in the current activity levels of our core markets. The results of the Company's restructuring and cost-containment efforts are clearly indicated in our operating results." "We made structural realignments to better serve our customer base with the recently announced Customer Development and Support Organization which includes Global Sales, Field Service, and Customer Program Management functions," continued Mr. Dougherty. "We believe this will be a critical driver in heightening our customer focus and is just the first step in terms of strengthening our presence in key application and geographic markets where we're not significant players today."