Monday, May 4, 2009

AS&E cargo screening vans bring in $4.7M

By Brendan Lynch

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American Science and Engineering Inc. reports it has landed $4.7 million from an unnamed law enforcement agency for its cargo screening vans.

Under the contract, the Billerica-based company will deliver multiple Z Backscatter Vans to an unnamed law enforcement agency. AS&E said the vans will be used to scan vehicles at border crossings and other checkpoints to detect illegal drugs and other contraband.

The Z Backscatter Van system comprises a mobile X-ray screening system built into standard commercial vans to allow for “drive-by” inspection. One or two operators can conduct X-ray imaging while the ZBV drives past suspicious vehicles and objects.

Last week, Billerica-based AS&E (Nasdaq: ASEI) landed $4.4 million from another unnamed U.S. government agency for maintenance on its cargo inspection vans.

Earlier this month, AS&E received the first order from an unnamed client for its Z Gantry multi-view Z Backscatter cargo and vehicle screening system. Financial terms of the deal were not disclosed.

Also this month, 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.

AS&E reported a fiscal 2008 net income of $17.5 million on revenue of $166.7 million.