EXHIBIT 99.1
FOR IMMEDIATE RELEASE
American Science and Engineering, Inc. Receives $16 Million Order
for CargoSearch™ and ParcelSearch™ X-ray Inspection Systems
BILLERICA, Mass. – September 1, 2004 – American Science and Engineering, Inc. (AMEX: ASE) (AS&E®), a leader in X-ray detection technology, announced today the receipt of a $16 million order from an unnamed government for various cargo and parcel inspection systems.
“I am pleased to announce this significant order for AS&E cargo and parcel systems,” said Anthony Fabiano, President and CEO. “Our products are well engineered, utilizing highly advanced proprietary technology to provide unparalleled detection capabilities.”
Utilizing highly advanced inspection technologies, in combination or stand-alone, AS&E CargoSearch™
X-ray inspection systems can detect a multitude of threats and contraband, including drugs, plastic weapons and explosives, and radioactive threats, without disrupting the flow of commerce. CargoSearch systems are available in a variety of configurations and can inspect cars, vans, and trucks, as well as palletized cargo, and air and sea cargo containers.
AS&E ParcelSearch™ systems combine traditional transmission X-rays with Z® Backscatter technology to effectively detect threats and contraband inside large parcels and small cargo containers. These systems in particular are unique because they employ dual X-ray sources to produce Z Backscatter images of objects from both sides – without repositioning.
About AS&E®
American Science and Engineering, Inc. develops and manufactures state-of-the-art X-ray inspection systems for homeland security and other critical defense applications. AS&E continues to innovate, create and develop new products by investing in new ideas through research and development, and evolving its technology to meet the needs of an ever-changing world. AS&E’s patented Z Backscatter technology detects plastic explosives, illegal drugs, and other contraband, even when artfully concealed in complex backgrounds by terrorists and smugglers. AS&E’s Shaped EnergyTM X-ray inspection systems combine the material discrimination features of Z Backscatter imaging with the penetration capability of high-energy X-rays for dense cargoes, without the problems caused by excessive radiation. AS&E’s High Energy Systems Division manufactures linear accelerators for a variety of applications including medical, scientific, security, electron beam curing and non-destructive testing. For more information on AS&E products and technologies, please visit http://www.as-e.com.
For more information:
Laura Berman
American Science and Engineering, Inc.
(978) 262-8700
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.
