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Share Name | Share Symbol | Market | Type |
---|---|---|---|
American Science And Engineering, Inc. | NASDAQ:ASEI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 37.05 | 36.98 | 37.09 | 0 | 01:00:00 |
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 9, 2015
AMERICAN SCIENCE AND ENGINEERING, INC.
(Exact Name Of Registrant As Specified In Its Charter)
MASSACHUSETTS
(State or Other Jurisdiction of Incorporation)
1-6549 |
|
04-2240991 |
(Commission File Number) |
|
(I.R.S. Employer Identification No.) |
829 MIDDLESEX TURNPIKE, BILLERICA, MASSACHUSETTS |
|
01821 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(978) 262-8700
(Registrants Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On November 9, 2015, American Science and Engineering, Inc. (the Company) issued a press release announcing financial results for the second quarter of fiscal year 2016 ended September 30, 2015. The Company also posted on its website (http://ir.as-e.com/events.cfm) a slide presentation regarding such financial results. Copies of the press release and slide presentation are attached herewith as Exhibit 99.1 and 99.2, respectively.
Limitation on Incorporation by Reference. The information furnished in this Form 8-K and the Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Cautionary Note Regarding Forward-Looking Statements. Except for historical information contained in the press release and slide presentation attached as Exhibits hereto, the press release and slide presentation contain forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release and slide presentation regarding these forward-looking statements.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit |
|
Description |
|
|
|
99.1 |
|
Press Release of American Science and Engineering, Inc. dated November 9, 2015 announcing financial results for second quarter of fiscal year 2016. |
|
|
|
99.2 |
|
Earnings Call Presentation of American Science and Engineering, Inc. dated November 9, 2015 announcing financial results for second quarter of fiscal year 2016. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: November 9, 2015 |
AMERICAN SCIENCE AND ENGINEERING, INC. | |
|
|
|
|
By: |
/s/ Kenneth J. Galaznik |
|
|
Kenneth J. Galaznik |
|
|
Senior Vice President, CFO and Treasurer |
EXHIBIT INDEX
Exhibit |
|
Description |
|
|
|
99.1 |
|
Press Release of American Science and Engineering, Inc. dated November 9, 2015, announcing financial results for second quarter of fiscal year 2016. |
|
|
|
99.2 |
|
Earnings Call Presentation of American Science and Engineering, Inc. dated November 9, 2015, announcing financial results for second quarter of fiscal year 2016. |
EXHIBIT 99.1
American Science and Engineering, Inc. Reports Results for
Second Quarter Fiscal Year 2016 and Declares Dividend
· Free cash of $8.7 million reflects continuing emphasis on working capital improvements (free cash defined as cash flow from operations less capital expenditures)
· Quarterly dividend declared of $0.50 per share
· Z Portal next generation inspection system and CBP IDIQ contract for new medium energy mobile scanner reflect organic product development efforts in support of continuing portfolio expansion strategy
BILLERICA, Mass. November 9, 2015 American Science and Engineering, Inc. (NASDAQ: ASEI) (AS&E), a leading worldwide supplier of innovative X-ray detection solutions, today reported its financial results for the second quarter of fiscal year 2016 ended September 30, 2015. The Company reported revenues of $25.1 million as compared with revenues of $23.1 million for the second quarter of fiscal year 2015, net income of $0.5 million, as compared with a net loss of $3.9 million (inclusive of a $1.4 million charge for a workforce reduction in the second quarter of fiscal year 2015) and earnings per share of $0.06 as compared with loss per share of $0.49 for the second quarter of fiscal year 2015.
For the first six months of fiscal year 2016 ended September 30, 2015, the Company reported revenues of $56.6 million as compared with revenues of $58.6 million for the same period in the prior fiscal year, a net loss of $0.1 million (inclusive of the $1.7 million one-time charge related to the corporate realignment in the first quarter of fiscal year 2016) as compared with a net loss of $2.5 million for the same period in the prior fiscal year, and a loss per share of $0.01 as compared with a loss per share of $0.31 for the same period in the prior fiscal year.
The Company reported bookings of $21.7 million for the second quarter of fiscal year 2016 and $67.6 million for the first six months of fiscal year 2016. Backlog at September 30, 2015 was $149.3 million.
The Company is declaring a quarterly cash dividend of $0.50 per share, payable on December 2, 2015 to the holders of record at the close of business on November 24, 2015.
The quarters results reflect the benefit of our cost reduction efforts from Q1 as well as our continued emphasis on working capital improvements, said Chuck Dougherty, AS&Es President and CEO. The announcement of the multi-view, multi-technology Z Portal® next generation vehicle inspection system and the CBP IDIQ award for a new medium energy mobile scanner are the continuing results of our aggressive, organic product development program. By leveraging AS&Es innovation leadership to support our portfolio expansion strategy, we continue to differentiate ourselves from the competition by introducing new, advanced technologies and products that extend the application reach of our detection technology for new and existing customers.
Chuck Dougherty, President and Chief Executive Officer, and Ken Galaznik, Senior Vice President, Chief Financial Officer and Treasurer, will host a conference call and simultaneous webcast to discuss the results and respond to questions. The conference call and webcast will include a presentation and are scheduled for Monday, November 9, 2015 at 4:30 pm ET.
To participate in the conference call, please dial (877) 303-9143 at least 10 minutes prior to its starting time. For international participants, please dial (760) 536-5194. The conference identification number is 73229964. You will be
placed on hold until the conference call is ready to begin. The live webcast and presentation can be accessed at http://edge.media-server.com/m/p/khutjyd4.
An audio replay of the teleconference will be available, in its entirety, starting Monday, November 9, 2015 at 7:30 pm ET for a one-week period by dialing (855) 859-2056. Internationally, please dial (404) 537-3406. The conference identification number is 73229964. The replay and presentation will also be available through the Companys website at http://ir.as-e.com/events.cfm.
About AS&E
American Science and Engineering, Inc. (AS&E) is the trusted global provider of threat and contraband detection solutions for ports, borders, military, critical infrastructure, law enforcement, and aviation. With over 50 years of experience, AS&E offers proven, advanced X-ray inspection systems to combat terrorism, drug smuggling, illegal immigration, and trade fraud. AS&E systems are designed in a variety of configurations for cargo and vehicle inspection, parcel inspection, and personnel screening. Using a combination of technologies, these systems provide superior detection capabilities, with high-energy, dual-energy, and Z Backscatter® X-rays. Learn more about AS&E products and technologies at www.as-e.com and follow us on Twitter @ase_detects.
Public Relations Contact: |
|
|
|
Dana Harris |
Laura Berman |
Red Javelin Communications, Inc. |
American Science and Engineering, Inc. |
978-440-8392 |
978-262-8700 |
dana@redjavelin.com |
lberman@as-e.com |
Safe Harbor Statement: The foregoing press release contains statements concerning AS&Es 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, delays or cancellations (in full or in part) in procurements of the Companys systems by the United States and other governments; disruption in the supply of any source component incorporated into AS&Es products; litigation seeking to restrict the use of intellectual property used by the Company; limitations under certain laws on the Companys ability to protect its own intellectual property; 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 Companys products to address such threats; the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth; technical problems and other delays that could impact new product development and the Companys ability to adapt to changes in technology and customer requirements; competitive pressures; lengthy sales cycles both in United States government procurement and procurement abroad; future delays in federal funding, the market price of the companys stock prevailing from time to time, the nature of other investment opportunities presented to the company from time to time, the companys cash flows from operations and market and general economic conditions. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in AS&Es 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. Readers are further advised to review the Risk Factors set forth in the Companys most recent Form 10-Q and Form 10-K, which further detail and supplement the factors described in this Safe Harbor Statement. Among other disclosures, the Risk Factors disclose risks pertaining to that portion of the Companys business that is dependent on United States government contracting as well as international customers.
AMERICAN SCIENCE AND ENGINEERING, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
|
|
Quarter Ended |
|
Six Months Ended |
| ||||||||
|
|
September |
|
September |
|
September |
|
September |
| ||||
Total net sales and contract revenues |
|
$ |
25,137 |
|
$ |
23,066 |
|
$ |
56,581 |
|
$ |
58,603 |
|
Total cost of sales and contracts |
|
12,783 |
|
13,383 |
|
29,801 |
|
32,451 |
| ||||
Gross profit |
|
12,354 |
|
9,683 |
|
26,780 |
|
26,152 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Expenses: |
|
|
|
|
|
|
|
|
| ||||
Selling, general and administrative expenses |
|
6,772 |
|
9,118 |
|
15,042 |
|
17,309 |
| ||||
Research and development costs |
|
4,751 |
|
6,418 |
|
11,640 |
|
12,424 |
| ||||
Total operating expenses |
|
11,523 |
|
15,536 |
|
26,682 |
|
29,733 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Operating income (loss) |
|
831 |
|
(5,853 |
) |
98 |
|
(3,581 |
) | ||||
Interest and other, net |
|
(117 |
) |
(21 |
) |
(176 |
) |
(106 |
) | ||||
Income (loss) before provision (benefit from) income taxes |
|
714 |
|
(5,874 |
) |
(78 |
) |
(3,687 |
) | ||||
Provision for (benefit from) income taxes |
|
250 |
|
(1,968 |
) |
(27 |
) |
(1,235 |
) | ||||
|
|
|
|
|
|
|
|
|
| ||||
Net income (loss) |
|
$ |
464 |
|
$ |
(3,906 |
) |
$ |
(51 |
) |
$ |
(2,452 |
) |
|
|
|
|
|
|
|
|
|
| ||||
Income (loss) per share - Basic |
|
$ |
0.06 |
|
$ |
(0.49 |
) |
$ |
(0.01 |
) |
$ |
(0.31 |
) |
Income (loss) per share - Diluted |
|
$ |
0.06 |
|
$ |
(0.49 |
) |
$ |
(0.01 |
) |
$ |
(0.31 |
) |
|
|
|
|
|
|
|
|
|
| ||||
Weighted average shares - Basic |
|
7,151 |
|
7,917 |
|
7,156 |
|
7,904 |
| ||||
Weighted average shares - Diluted |
|
7,156 |
|
7,917 |
|
7,156 |
|
7,904 |
|
The results of operations reported herein may not be indicative of future financial conditions or results of future operations.
AMERICAN SCIENCE AND ENGINEERING, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
|
|
September 30, 2015 |
|
March 31, 2015 |
| ||
Assets |
|
|
|
|
| ||
Current assets: |
|
|
|
|
| ||
Cash and cash equivalents |
|
$ |
79,293 |
|
$ |
68,835 |
|
Restricted cash |
|
5,596 |
|
6,193 |
| ||
Short-term investments, at fair value |
|
7,694 |
|
24,533 |
| ||
Accounts receivable, net |
|
20,873 |
|
22,124 |
| ||
Unbilled costs and fees |
|
3,478 |
|
1,848 |
| ||
Inventories, net |
|
38,329 |
|
40,983 |
| ||
Other current assets |
|
11,309 |
|
13,187 |
| ||
Total current assets |
|
166,572 |
|
177,703 |
| ||
|
|
|
|
|
| ||
Non-current assets: |
|
|
|
|
| ||
Equipment and leasehold improvements, net |
|
7,117 |
|
8,711 |
| ||
Restricted cash |
|
231 |
|
208 |
| ||
Other assets |
|
6,253 |
|
6,486 |
| ||
Total assets |
|
$ |
180,173 |
|
$ |
193,108 |
|
|
|
|
|
|
| ||
Liabilities & Stockholders Equity |
|
|
|
|
| ||
Current liabilities: |
|
|
|
|
| ||
Accounts payable |
|
$ |
4,747 |
|
$ |
7,200 |
|
Customer deposits |
|
11,557 |
|
13,956 |
| ||
Deferred revenue |
|
8,653 |
|
7,355 |
| ||
Other current liabilities |
|
9,328 |
|
12,664 |
| ||
Total current liabilities |
|
34,285 |
|
41,175 |
| ||
|
|
|
|
|
| ||
Non-current liabilities: |
|
|
|
|
| ||
Other non-current liabilities |
|
3,966 |
|
1,526 |
| ||
Total liabilities |
|
38,251 |
|
42,701 |
| ||
|
|
|
|
|
| ||
Stockholders equity |
|
141,922 |
|
150,407 |
| ||
Total liabilities and stockholders equity |
|
$ |
180,173 |
|
$ |
193,108 |
|
AMERICAN SCIENCE AND ENGINEERING, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
|
|
For the Six Months Ended |
| ||||
|
|
September 30, |
|
September 30, |
| ||
Cash flows from operating activities: |
|
|
|
|
| ||
Net loss |
|
$ |
(51 |
) |
$ |
(2,452 |
) |
Adjustments to reconcile net loss to net cash provided by (used for) operating activities: |
|
|
|
|
| ||
Depreciation and amortization |
|
1,965 |
|
2,605 |
| ||
Provisions for contracts, inventory and accounts receivable reserves |
|
(80 |
) |
(270 |
) | ||
Amortization of bond premium |
|
63 |
|
540 |
| ||
Stock compensation expense |
|
1,044 |
|
1,770 |
| ||
Other |
|
202 |
|
|
| ||
|
|
|
|
|
| ||
Changes in assets and liabilities: |
|
|
|
|
| ||
Accounts receivable |
|
1,326 |
|
4,878 |
| ||
Unbilled costs and fees |
|
(1,630 |
) |
(3,272 |
) | ||
Inventories |
|
2,659 |
|
(11,534 |
) | ||
Prepaid expenses and other assets |
|
2,111 |
|
(5,436 |
) | ||
Accounts payable |
|
(2,453 |
) |
(6,762 |
) | ||
Accrued income taxes |
|
|
|
(2,338 |
) | ||
Customer deposits |
|
(2,399 |
) |
5,433 |
| ||
Deferred revenue |
|
3,623 |
|
(1,847 |
) | ||
Accrued expenses and other liabilities |
|
(3,221 |
) |
(7,274 |
) | ||
Net cash provided by (used for) operating activities |
|
3,159 |
|
(25,959 |
) | ||
|
|
|
|
|
| ||
Cash flows from investing activities: |
|
|
|
|
| ||
Purchases of short-term investments |
|
|
|
(29,212 |
) | ||
Proceeds from sales and maturities of short-term investments |
|
16,780 |
|
40,933 |
| ||
Purchases of property and equipment, net |
|
(573 |
) |
(943 |
) | ||
Net cash provided by investing activities |
|
16,207 |
|
10,778 |
| ||
|
|
|
|
|
| ||
Cash flows from financing activities: |
|
|
|
|
| ||
Decrease in restricted cash and investments |
|
574 |
|
726 |
| ||
Proceeds from exercise of stock options |
|
|
|
888 |
| ||
Repurchase of shares of common stock |
|
(2,263 |
) |
|
| ||
Repayment of leasehold financing liability |
|
|
|
(754 |
) | ||
Payment of common stock dividend |
|
(7,219 |
) |
(7,993 |
) | ||
Net cash used for financing activities |
|
(8,908 |
) |
(7,133 |
) | ||
|
|
|
|
|
| ||
Net increase (decrease) in cash and cash equivalents |
|
10,458 |
|
(22,314 |
) | ||
Cash and cash equivalents at beginning of period |
|
68,835 |
|
62,143 |
| ||
Cash and cash equivalents at end of period |
|
$ |
79,293 |
|
$ |
39,829 |
|
EXHIBIT 99.2
November 9, 2015 American Science and Engineering, Inc. Q2 Fiscal Year 2016 Earnings Call Presentation
Safe Harbor Statement 2 ©2015 American Science and Engineering, Inc. The foregoing presentation contains statements concerning AS&Es financial performance, markets and business operations that may be considered forward-looking under applicable securities laws. AS&E wishes to caution readers of this material 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, delays or cancellations (in full or in part) in procurements of the Companys 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; limitations under certain laws on the Companys ability to protect its own intellectual property; 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 Companys products to address such threats; the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth; technical problems and other delays that could impact new product development and the Companys ability to adapt to changes in technology and customer requirements; competitive pressures; lengthy sales cycles both in US government procurement and procurement abroad; 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&Es 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. Readers are further advised to review the Risk Factors set forth in the Companys Annual Report on Form 10-K, which further detail and supplement the factors described in this Safe Harbor Statement. Among other disclosures, the Risk Factors disclose risks pertaining to that portion of the Companys business that is dependent on U.S. government contracting as well as international customers. As a contractor with the U.S. government, a significant number of the Companys government contracts may be terminated at the governments discretion.
Sales by Product Line: Q2 FY16 vs. Q2 FY15 (000s) 3 ©2015 American Science and Engineering, Inc. Q2 FY16 Q2 FY15 Increase/ (Decrease) Cargo Systems $ 681 $ 4,035 $ (3,354) Mobile Cargo Systems 9,210 2,772 6,438 Parcel and Personnel Systems 2,317 1,534 783 Service 11,712 12,062 (350) Other 1,217 2,663 (1,446) Total Sales $ 25,137 $ 23,066 $ 2,071 Q2 FY15 Q2 FY16 Service 46% Parcel and Personnel Systems 9% Mobile Cargo Systems 37% Cargo Systems 3% Other 5% Cargo Systems 17% Mobile Cargo Systems 12% Parcel and Personnel Systems 7% Service 52% Other 12%
Consolidated Statement of Operations: Q2 FY16 vs. Q2 FY15 (000s) 4 ©2015 American Science and Engineering, Inc. Quarter Ended September 30, 2015 September 30, 2014 Increase/ (Decrease) Total net sales and contract revenues $ 25,137 $ 23,066 $ 2,071 Total cost of sales and contracts 12,783 13,383 (600) Gross profit 12,354 9,683 2,671 Expenses: Selling, general and administrative expenses 6,772 9,118 (2,346) Research and development costs 4,751 6,418 (1,667) Total operating expenses 11,523 15,536 (4,013) Operating income (loss) 831 (5,853) 6,684 Interest and other income (expense), net (117) (21) (96) Income (loss) before provision for (benefit from) income taxes 714 (5,874) 6,588 Provision for (benefit from) income taxes 250 (1,968) 2,218 Net income (loss) $ 464 $ (3,906) $ 4,370 Income (loss) per share Basic $ 0.06 $ (0.49) $ (0.55) Income (loss) per share Diluted $ 0.06 $ (0.49) $ (0.55)
Sales by Product Line: YTD FY16 vs. YTD FY15 (000s) 5 ©2015 American Science and Engineering, Inc. Six Months Ended September 30, 2015 September 30, 2014 Increase/ (Decrease) Cargo Systems $ 9,590 $ 13,181 $ (3,591) Mobile Cargo Systems 16,318 14,335 1,983 Parcel and Personnel Systems 4,823 2,299 2,524 Service 24,015 24,348 (333) Other 1,835 4,440 (2,605) Total Sales $ 56,581 $ 58,603 $ (2,022) YTD FY15 YTD FY16 Service 42% Parcel and Personnel Systems 9% Mobile Cargo Systems 29% Cargo Systems 17% Other 3% Cargo Systems 22% Mobile Cargo Systems 24% Parcel and Personnel Systems 4% Service 42% Other 8%
Consolidated Statement of Operations 6 ©2015 American Science and Engineering, Inc. Six Months Ended September 30, 2015 September 30, 2014 Increase/ (Decrease) Total net sales and contract revenues $ 56,581 $ 58,603 $ (2,202) Total cost of sales and contracts 29,801 32,451 (2,650) Gross profit 26,780 26,152 628 Expenses: Selling, general and administrative expenses 15,042 17,309 (2,267) Research and development costs 11,640 12,424 (784) Total operating expenses 26,682 29,733 (3,051) Operating income (loss) 98 (3,581) 3,679 Interest and other income (expense), net (176) (106) (70) Income (loss) before provision for (benefit from) income taxes (78) (3,687) 3,609 Provision for (benefit from) income taxes (27) (1,235) 1,208 Net income (loss) $ (51) $ (2,452) $ 2,401 Income (loss) per share - Basic $ (0.01) $ (0.31) $ 0.30 Income (loss) per share - Diluted $ (0.01) $ (0.31) $ 0.30
Cash and Investments Balance at September 30, 2015 (000s) 7 ©2015 American Science and Engineering, Inc. M a r ch 3 1 , 2 01 5 S e p t e m b e r 3 0 , 20 1 5 R e s t r ic t e d C a s h a nd I n v e s t m e n ts - L o n g - T e r m $ 208 $ 231 R e s t r ic t e d C a s h a nd I n v e s t m e n t s - C u r r e n t $ 6 , 193 $ 5 , 596 S h o r t - T e r m I n v e s t m e n t s $ 24 , 533 $ 7, 6 94 C a s h a nd C a s h E qui v a l e n t s $ 6 8 , 835 $ 7 9 , 293 0 $ 2 0 , 0 0 0 $ 4 0 , 0 0 0 $ 6 0 , 0 0 0 $ 8 0 , 0 0 0 $ 1 0 0 , 0 0 0 $ 9 0 , 0 0 0 $ 7 0 , 0 0 0 $ 5 0 , 0 0 0 $ 3 0 , 0 0 0 $ 1 0 , 0 0 0
Backlog (000s) 8 ©2015 American Science and Engineering, Inc. $- $40,000 $80,000 $120,000 $160,000 $200,000 $240,000 Q2'12 Q2'13 Q2'14 Q2 '15 Q2 '16 Backlog $211,151 $222,270 $174,965 $158,075 $149,300
Strategic Initiatives Update 9 ©2015 American Science and Engineering, Inc.
Geographic Expansion 10 ©2015 American Science and Engineering, Inc. Counterterrorism: Five ZBV® systems booked and deployed to combat terrorism in a North African country Event Security: ZBV systems are deployed to screen for explosives at a high-profile event in APAC ZBV and MINI Z® are deployed for counterterrorism applications at Worlds Fair ZBV systems deployed to protect VIP and screen for explosives
Portfolio Expansion 11 ©2015 American Science and Engineering, Inc. We continue to make significant progress in Portfolio Expansion Release of the next generation Z Portal® system: Enhanced detection capability: Multi-technology with up to six views of scanned cargo Higher throughput, drive-through screening system: 250 trucks or 400 passenger vehicles per hour Compact, construction-less design: Fits into existing toll booth lanes and eliminates the need for extensive civil works Medium Energy Mobile Scanner (MEM) Awarded IDIQ by U.S. CBP Will leverage our innovative detection technology on a new mobile platform Broadens our portfolio of port and border security detection solutions Next generation Z Portal system for high throughput screening of cargo and vehicles provides up to six images of car undergoing inspection
Services Evolution Service continues to be a differentiator for us with the highest levels of customer satisfaction Multi-Year Service Contracts Multi-Vendor Service is an extension of our traditional Services offering and provides a single point of support for 3rd party platforms Rental and Leasing Program Managed Services 12 ©2015 American Science and Engineering, Inc.
Strategic Initiatives Update 13 ©2015 American Science and Engineering, Inc.
VALUES Q & A An audio replay and a copy of the presentation slides will be available on the AS&E website at ir.as-e.com. Learn more about AS&E products and technologies at www.as-e.com and follow us on Twitter @ase_detects
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