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Print Edition StoriesMonday, April 6, 2009
AS&E sells its first gantry security scanner to DOD
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Security technology company American Science and Engineering Inc. reports it has landed a contract from the U.S. Department of Defense for its cargo and vehicle screening system.
AS&E (Nasdaq: ASEI) said the order is the first for its Z Gantry multi-view Z Backscatter cargo and vehicle screening system. Financial terms of the deal were not disclosed.
The system’s scanner moves on rails past stationary vehicles and cargo to produce images from three sides — left, right, and top-down the company said.
Last week, Billerica-based AS&E won a $6.3 million follow-on order from an unnamed client in the Middle East for an unspecified number of its Z Portal cargo and vehicle screening systems.
Last month, AS&E had its most recent contract for bomb-detecting ZBV Military Trailers cut nearly in half by the U.S. government. The company received a Partial Termination for Convenience that cut a $67.1 million contract procurement of ZBV Military Trailers to $39.3 million. Research notes from analyst Steve Levenson, of Stifel Nicolaus & Co., pointed to protests from a contract competitor, Rapiscan Systems, a division of AS&E competitor OSI Systems Inc. of California, as a reason for the Department of Defense cutting the 68 planned ZBV units to 34 units.
AS&E reported a fiscal 2008 net income of $17.5 million on revenue of $166.7 million.
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