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AS&E Receives $14 Million U.S. Dept. of Homeland Security R&D Award for Next Generation Non-Intrusive Inspection Air Cargo System

Dépèche transmise le 18 janvier 2011 par Business Wire

AS&E Receives $14 Million U.S. Dept. of Homeland Security R&D Award for Next Generation Non-Intrusive Inspection Air Cargo System

BILLERICA, Mass.--(BUSINESS WIRE)--American Science and Engineering, Inc. (“AS&E”) (NASDAQ: ASEI) a leading worldwide supplier of innovative X-ray detection solutions, announced today the receipt of a $14 million contract award from the U.S. Department of Homeland Security (DHS) Science and Technology (S&T) Directorate’s CanScan Program to design and build a non-intrusive inspection (NII) system for air cargo. The first phase of the contract has been funded for $2.2 million. This next generation system will have the ability to automatically detect and identify a wide variety of threat materials, including explosives, drugs, currency, and weapons at border crossings, maritime ports, and airports.

“We have a long history with Bubble Technology Industries and we are very pleased to collaborate with them on this critical program for the U.S. government.”

After a competitive procurement process, DHS selected AS&E, who with Bubble Technology Industries, adopted an innovative system concept that provides advanced imaging through multimodal, active interrogation techniques.

“Material discrimination capability could be an important breakthrough for AS&E’s cargo inspection offerings,” said Anthony Fabiano, President and CEO. “This award by DHS is a testament to AS&E’s commitment to pioneer the most advanced inspection solutions for our nation’s security requirements. We look forward to our continued work with DHS S&T and the CanScan program to deliver a reliable technology solution for detecting a wider range of threats in air cargo.”

Fabiano continued, “We have a long history with Bubble Technology Industries and we are very pleased to collaborate with them on this critical program for the U.S. government.”

Dr. Harry Ing, President and CEO of Bubble Technology Industries, stated “We are pleased to work with AS&E to address this important security problem and to achieve the objectives of the CanScan Program.”

About AS&E

American Science and Engineering, Inc. (AS&E) is a leading worldwide supplier of innovative X-ray inspection systems. With over 50 years of experience in developing advanced X-ray security systems, the Company’s product line utilizes a combination of technologies, including patented Z Backscatter^™ technology, Radioactive Threat Detection (RTD), high energy transmission and dual energy transmission X-ray. These technologies offer superior X-ray threat detection for plastic explosives, plastic weapons, liquid explosives, dirty bombs and nuclear devices. AS&E’s complete range of products include cargo inspection systems for port and border security, baggage screening systems for facility and aviation security, and personnel and passenger screening systems. AS&E^® systems protect high-threat facilities and help combat terrorism and trade fraud, drug smuggling, weapon smuggling, and illegal immigration and people smuggling. AS&E customers include leading government agencies, border authorities, military bases, airports and corporations worldwide, including the U.S. Department of Homeland Security (DHS), U.S. Department of Defense (DoD), U.S. Customs and Border Protection (CBP), North Atlantic Treaty Organization (NATO), UK Border Agency (UKBA), Hong Kong Customs, and Abu Dhabi Customs. For more information on AS&E products and technologies, please visit www.as-e.com.

About Bubble Technology Industries

Bubble Technology Industries (BTI) is a dynamic company with world-renowned expertise in the field of radiation and explosives detection. With a track record of over twenty years of innovation, BTI combines scientific, engineering, and manufacturing expertise to yield advanced solutions to complex radiation problems. Systems developed by BTI have flown on over ten space missions and the company’s technology has been used around the world by groups including the U.S. Department of Homeland Security, the U.S. Department of Energy, the Canadian government, NATO, and the International Atomic Energy Agency (IAEA). For more information on BTI, please visit www.bubbletech.ca.

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, delays or cancellations (in full or in part) 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; limitations under certain laws on the Company’s 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 Company’s 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 Company’s ability to adapt to changes in technology and customer requirements; competitive pressures; lengthy sales cycles both in United States 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&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. Readers are further advised to review the “Risk Factors” set forth in the Company’s 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 Company’s business that is dependent on United States government contracting as well as international customers. As a contractor with the United States government, a significant number of the Company’s government contracts may be terminated at the government’s discretion.