American Science and Engineering (ASEI) creates technology to scan cargo and cars for bombs. Mark Travis, chief investment officer of Intrepid Capital Funds, said the company has a clean balance and would be a great acquisition for larger defense contractor. 'With the increase in concerns about terrorism the demand for security measures has risen,' said Travis. 'American Science and Engineering is a leader in the space and even supplied the technology to protect the Pope.' Shares of American Science and Engineering are down 30% so far this year, primarily due to a big move down following a third quarter loss in February.