BILLERICA, Mass., Oct. 9, 2012 (GLOBE NEWSWIRE) -- American Science and Engineering, Inc. ("AS&E") (Nasdaq:ASEI), a leading worldwide supplier of innovative X-ray detection solutions, announced today it has been awarded an Indefinite Delivery/Indefinite Quantity ("IDIQ") contract from the Transportation Security Administration (TSA) with a ceiling value of $245 million in purchases of its SmartCheck® next generation of Advanced Imaging Technology. The IDIQ contract also includes service, maintenance, and training for the SmartCheck systems. As part of this contract, AS&E received its first delivery order for three SmartCheck systems to be tested at TSA facilities.
The SmartCheck system was designed as a primary personnel screening device to detect concealed threats such as metallic and non-metallic weapons, explosives, and other prohibited items. The SmartCheck system includes the Automated Target Recognition (ATR) capability, which reduces privacy concerns and decreases passenger processing time by displaying only a generic figure with potential threat areas highlighted. In addition, the reduced size of the SmartCheck system is suited for smaller checkpoint configurations.
"Our SmartCheck personnel screening system, integrated with ATR technology and a smaller size, provides an enhanced solution for safe, effective, and comprehensive screening that protects the traveling public while ensuring privacy," said Anthony Fabiano, AS&E's President and CEO. "With imminent threats around the world, we are proud to continue our work that is more critical than ever."
About SmartCheck® Personnel Screening System
AS&E's SmartCheck personnel screening system is the most effective and efficient system to screen for contraband and threats hidden under a person's clothing. Its capability goes well beyond that of metal detectors because it simultaneously detects both metallic and non-metallic objects, such as guns and knives, plastic and liquid explosives, composite weapons, drugs and other hidden threats and contraband. The system protects the privacy of screened individuals by displaying a generic figure with potential threat areas highlighted. The SmartCheck system is safe for all individuals and complies fully with applicable personnel screening standards.
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, trade fraud, drug smuggling, weapon smuggling, 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.
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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.
Source:American Science and Engineering, Inc.