American Science & Engineering Earnings Surge

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After gaining 0.4% in regular trading hours, American Science & Engineering reported fiscal Q1 2014 earnings results that are likely to pressure the company in after-hours trading.

Earnings at the maker of Backscatter X-Ray machines surged 32% year over year, to $0.62 per share on $43.1 million in revenues. The company thus "beat" estimates for earnings, which analysts had expected to come in closer to $0.60, but "missed" on revenues, which were expected to approximate $43.6 million. Q1 revenues represented a 9% decline from fiscal Q1 2013 levels.

New orders taken in during the quarter -- "bookings" -- were only $29.9 million, a 28% decline from business one year-ago, and only 69% of what the company billed in this just-past Q1. Backlog, accordingly, declined 7%. At $173 million, AS&E still has enough work on order to keep it busy for the next 11 months at current revenue rates.

The article American Science & Engineering Earnings Surge originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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