UPDATE 1-American Science Q3 profit halves, shares fall

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Feb 11 (Reuters) - American Science and Engineering Inc's (ASEI.O: Quote, Profile, Research) third-quarter profit halved, hurt by lower gross margins, sending its shares down nearly 7 percent in after-hours trade. The supplier of x-ray inspection systems earned $4.0 million, or 43 cents a share, compared with $8.1 million, or 86 cents a share in the year-ago quarter.

Analysts, on average, expected earnings of 62 cents a share, before items, for the quarter, according to Reuters Estimates.

Revenue fell 11 percent to $42.6 million.

The company said lower margins were due to product mix, new product development costs, a 119 percent rise in research and development costs, and a 12 cents a share charge related to the write-down of a note receivable.

"Backlog reached another record high this quarter at $125 million with bookings from international customers accounting for 71 percent of total product bookings," Chief Executive Anthony Fabiano said in a statement.

Shares of the Billerica, Massachusetts-based company fell to $49 after the bell. It closed at $52.53 Monday on Nasdaq. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Jarshad Kakkrakandy)