American Science and Engineering [ASEI]
1Q17 1Q16
Sales $28.2M $31.4M
Net Inc. $54K, 0.01 ($515K, 0.07)
AS&E swung to a slight profit despite a 10 percent drop in sales and a $2.8 million (27 cents EPS) charge related to the company’s pending $269 million acquisition by OSI Systems [OSIS]. AS&E said the acquisition by OSI Systems is expected to be completed by the end of 2016. Due to the pending acquisition, AS&E did not host an earnings call. The company will host a shareholder meeting on Aug. 31 to vote on the merger agreement and related matters. Earnings rose on a decline in research and development costs, and selling, general and administrative expenses.