BILLERICA, Mass., July 10, 2013 (GLOBE NEWSWIRE) -- American Science and Engineering, Inc. ("AS&E") (Nasdaq:ASEI), a leading worldwide supplier of innovative X-ray detection solutions, announced today the receipt of an order for $3.5 million for AS&E's cargo inspection systems from Restrata, an Olive Group company, which is acting as the security partner for the city development project of Bismaya, Iraq, 10 kilometers south of Baghdad. AS&E's cargo X-ray inspection systems will be used to help ensure the security of the critical infrastructure project to build 100,000 housing units that will accommodate a half million Iraqi citizens.
"We are proud that AS&E was selected to support this important project and participate in the economic development in the region," said Chuck Dougherty, AS&E's President and CEO. "Providing comprehensive screening for all vehicles and cargo entering the city, AS&E's inspection solutions will reduce the level of vulnerability at this massive site and safeguard personnel, citizens, and the critical assets of the new development project in Bismaya."
AS&E's Critical Infrastructure Inspection Solutions
AS&E has a full range of leading-edge, industry-proven security screening solutions for critical infrastructure that are essential to the function of corporations, governments and national defense organizations around the world. Securing these facilities is crucial to protect the safe operation of facilities for electricity, telecommunications, transportation, water supplies, military, police, banking, hospitals, heating, agriculture, commerce, oil and gas refineries, and national monuments. AS&E systems for cargo, parcel, and personnel screening are deployed worldwide, helping large governments and corporations protect their vital assets.
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 — pioneered by AS&E. Learn more about AS&E products and technologies at 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, 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; future delays in federal funding, the market price of the company's stock prevailing from time to time, the nature of other investment opportunities presented to the company from time to time, the company's 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&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 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 Company's business that is dependent on United States government contracting as well as international customers.