Manufacturer of X-ray equipment and related technologies, American Science & Engineering Inc. ASEI, recently disclosed the most high-profile seizures of illegal items worth millions of dollars in 2015.
Inside the Headlines
American Science & Engineering’s proprietary ZBV technology helped locate an African customs organization, which collected $9 million in trade and tax revenues illegally. The company also found chemicals weighing thousands of kilos in the Middle East that were likely being used for making explosives and seized black money worth $1 million.
Using other proprietary technologies like Gemini parcel and baggage inspection system -MINI Z and Z Portal system, the company helped unearth drugs like cocaine and heroin across North America, South America and Asia. Also, ZBV mobile cargo technology was used to seize smuggled cigarettes in Poland.
Moving Forward
Considered to be one of the most bankable partners of the government, corporations and military organizations for safeguarding borders, checkpoints and other high-threat facilities, American Science & Engineering has garnered solid reputation for busting illegal activities around the world.
During the second quarter of fiscal 2016, American Science & Engineering witnessed robust improvement in its Mobile Cargo Inspection Systems (up 232.3%), and Parcel and Personnel Screening Inspection Systems (up 51%) revenues. Apart from impressive ZBV technology-related sales, the company’s MINI Z has proved to be a major driver of top-line growth in the second quarter.
At present, American Science & Engineering is one of the key players in the Global X-ray Security screening market that is expected to grow at a compounded annual growth rate of 5.1% over 2014–2019. According to market research reports, the surge in global terrorism as well as crime rates will continue to fuel increased adoption of X-ray security screening systems, and this bodes well for American Science & Engineering’s future prospects.
Currently, American Science & Engineering carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include AeroVironment, Inc. AVAV, TransDigm Group Incorporated TDG and Raytheon Company RTN. All three stocks hold a Zacks Rank #2 (Buy).
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