UPDATE: American Science & Engineering Announces Q2 Anticipated Loss, Cutting 10% of Jobs

American Science and Engineering, Inc.

("AS&E") announced today that it has reduced its workforce by approximately 10% and has implemented additional targeted cost reductions to further reduce its operating expenses. These actions were taken in response to the continued global volatility impacting its markets. The Company is anticipating a net loss in the second quarter of fiscal year 2015 (ended September 30, 2014) and will provide Q2 fiscal year 2015 results in its quarterly press release on November 7, 2014. The Company expects to realize the benefits of the cost cutting measures beginning in the third quarter of fiscal year 2015. "The escalating global volatility negatively impacted our quarterly results with shipment delays for orders already recorded in backlog," said Chuck Dougherty, AS&E's President and CEO. "While our opportunity pipeline remains robust, we have reduced our expenses to manage through the quarter to quarter variability that has affected us and others in our industry. As we move forward, we will continue to execute on our strategic growth initiatives to help us leverage and capture the increased global opportunity pipeline for our expanded portfolio of product and service offerings."