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January 14, 2013
12:01 EDTASEIAmerican Science & Engineering gets Spain's first order for ZBV system
American Science and Engineering announced the receipt of an order for the company's Z Backscatter Van from Indra Sistemas SA, AS&E's exclusive distributor in Spain, for use by Spain Customs and Excise, a department within the Spanish Tax Agency. With this order, Spain will obtain its first ZBV system, which will be used on their borders for trade fraud interdiction of items such as cigarettes. This also marks the first order for the recently introduced ZBV S-Class, the company said.
News For ASEI From The Last 14 Days
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October 15, 2014
15:15 EDTASEIASEI holder Willner says company should hire banking firm to explore options
Willner Capital, who together with its affiliates, is one of the largest stockholders of American Science and Engineering, ASEI, announced its extreme disappointment with the failure of the Board of Directors of ASEI to respond to its letter delivered to Denis R. Brown, Chairman of the Board, on September 26. In the September 26th Letter, the full text of which is included below, Willner Capital outlined its serious concerns with the company's abysmal stock price and operating performance and poor corporate governance practices under the stewardship of the current Board and management, including the company's ineffective use of excess cash. Willner Capital also identified opportunities to unlock significant value at ASEI in the September 26th Letter, including a spin-off of the company's newly released MINI Z technology. Willner Capital's concerns were further heightened in light of the company's recent announcement on September 30, that it anticipates a net loss in the second quarter of fiscal year 2015 and a work force reduction of approximately 10%. Michael Willner, President of Willner Capital, stated, "I am extremely disappointed with the Board's failure to respond to our serious concerns outlined in the September 26th Letter, particularly in light of the company's anticipated net loss for Q2 FY15'. In fact, over the past year, we have privately reached out to Charles P. Dougherty, the company's CEO, and most recently, Mr. Brown, to discuss our serious concerns. Unfortunately, our concerns have fallen, and continue to fall, on deaf ears. This merely confirms the company's extremely poor investor relations and stockholder communications policies, which we believe contributes to ASEI's stock price underperformance. The company's announced anticipated loss for Q2 FY15' only heightens our concerns regarding the direction of ASEI. We believe the Board should hire an investment banking firm to explore all strategic opportunities to maximize value for the benefit of all ASEI stockholders, including a sale or merger of the company."
15:11 EDTASEIASEI holder Willner says company should hire banking firm to explore options
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