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American Science and Engineering, Inc. (NASDAQ: ASEI) has announced this morning that the company has received a $55.1 million contract from the Abu Dhabi Customs.
The Customs Administration at Abu Dhabi, the largest emirate in the United Arab Emirates, has ordered multiple OmniView, Z Portal and Z Backscatter Van X-ray detection systems to scan cargo trucks, passenger vehicles, and containers at strategic border checkpoints.
AS&E is a leader in X-ray detection technology used for customs, transport screening, and more. To put the size of this order in perspective as a $55.1 million order, the company generated only $42.02 million in revenues during the Q1-2008 period.
Shares are up over 2.5% at $51.93 in the first 10 minutes of trading today with only about 19,000 shares trading hands. Its 52-week range is $42.10 to $73.40, and its average trading volume is about 116,000 shares. Its market cap is currently $455 million.
Jon C. Ogg
July 2, 2008
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