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| American Science and Engineering, Inc. Announces New Client Contract from a Middle Eastern Government Agency for Multiple ZBVs |
$6.2 Million ZBV Order to Protect High-Threat Government Facilities BILLERICA, Mass.--(BUSINESS WIRE)--Feb. 20, 2007--American Science and Engineering, Inc. (NASDAQ: ASEI) (AS&E(R)), a leader in X-ray detection technology, announced today the receipt of a $6.2 million order from a new Middle Eastern customer for multiple Z(R) Backscatter(TM) Vans (ZBV). Configured for harsh environments, the ZBVs will be utilized to secure and protect government facilities. "We continue to add new customers to our global client base," said Robert Postle, AS&E's Vice President of Worldwide Marketing and Sales. "Our expanding sales force is building a greater awareness of our products, services, and proprietary technologies -- increasing sales channels and bolstering our pipeline of new opportunities. We now have a solid installed base of ZBVs in the Middle East, and this client has seen first-hand the system's proven effectiveness to find explosives and other contraband. The ZBV's exceptional versatility and explosives detection capability is ideal for their crucial mission to protect high-threat government facilities." A breakthrough in X-ray detection technology, AS&E's Z Backscatter Van is a low-cost, highly mobile screening system built into a commercially available delivery van. The ZBV allows for immediate deployment in response to security threats, and its high throughput capability facilitates rapid inspections. The system's unique "drive-by" capability allows one or two operators to conduct X-ray imaging while the ZBV drives past suspect vehicles and objects. For personnel safety in dangerous environments, a remote console is available for operating the system in stationary mode from a distance of up to 500 meters. About AS&E(R) American Science and Engineering, Inc. (AS&E) is the leading worldwide supplier of innovative X-ray inspection and screening systems. With more than 45 years of experience in developing advanced X-ray security systems, the Company's product line utilizes a variety of technologies, including patented Z(R) Backscatter(TM), Shaped Energy(TM) and Radioactive Threat Detection (RTD). These technologies offer superior detection of threats including plastic explosives, plastic weapons, illegal drugs, other contraband, dirty bombs and nuclear devices. AS&E offers a complete range of X-ray inspection products including Z Backscatter screening systems, CargoSearch(TM), and ParcelSearch(TM) inspection systems, used for critical detection and security applications to combat terrorism, drug and weapon smuggling, trade fraud, and illegal immigration. AS&E customers include leading governmental agencies, border authorities, military bases, airports and corporations worldwide, including the U.S. Department of Homeland Security, U.S. Department of Defense, U.S. Customs and Border Protection, Royal Thai Police, HM Revenue & Customs (U.K.) and Hong Kong Customs. For more information on AS&E products and technologies, please visit www.as-e.com. Safe Harbor Statement. The foregoing press release contains statements concerning AS&E's financial performance, markets and business operations that may be considered "forward-looking" under applicable securities laws. AS&E wishes to caution readers of this press release that actual results might differ materially from those projected in any forward-looking statements. Factors which might cause actual results to differ materially from those projected in the forward-looking statements contained herein include the following: significant reductions or delays in procurements of the Company's systems by the United States and other governments; disruption in the supply of any source component incorporated into AS&E's products; litigation seeking to restrict the use of intellectual property used by the Company; potential product liability claims against the Company; global political trends and events which affect public perception of the threat presented by drugs, explosives and other contraband; global economic developments and the ability of governments and private organizations to fund purchases of the Company's products to address such threats; and the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth, and future delays in federal funding. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in AS&E's periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. AS&E undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.
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| "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding American Science and Engineering's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. |