American Science and Engineering Shares Soared: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of American Science and Engineering (NAS: ASEI) have soared today by upward of 13% after reporting earnings last night.
So what: The X-ray specialist put up revenue of $57.9 million in the third quarter, down from $76.6 million a year ago. Earnings per share also fell to $0.84, compared to the $1.28 seen last time around. Meanwhile, bookings came in at $55.8 million.
Now what: The company also declared a quarterly dividend of $0.50 per share, being paid out next month. CEO Anthony Fabiano said the company is focused on continued international expansion, although macro uncertainties continue to "cause order variability." He added that AS&E continues to invest in growth, as research and development spending has been notched up by 11%.
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