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Investing

Abu Dhabi Sends X-Ray Order to AS&E (ASEI)

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By Douglas A. McIntyre Published

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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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