Small cap expert Jim Oberweis, Jr. looks to two recent buys for risk-oriented investors in The Oberweis Report; one sells security X-ray equipment; the other focuses on the nuclear sector.

"American Science and Engineering (NASDAQ: ASEI) develops, manufactures, markets, and sells X-ray inspection and other inspection solutions for homeland security and other targeted markets.

"The company makess sophisticated X-ray inspection products that can be used to inspect parcels, baggage, vehicles, pallets, cargo containers, and people.

"AS&E’s products are used to help combat terrorism, trade fraud, drug trafficking, weapons smuggling, and illegal immigration. They are also used for military force protection and general facility security.

"The company’s X-ray imaging products utilize several technologies including traditional transmission X-ray technology, proprietary Z Backscatter technology, Shaped Energy technology and Radioactive Threat Detection (RTD).

"In the company’s latest reported third quarter, sales increased approximately 53% to $65.3 million from $42.6 million in the third quarter of last year.

"American Science and Engineering reported earnings per share of $.1.13 in the latest reported third quarter versus $.43 in the same quarter of last year. We note that clients of Oberweis Asset Management own approximately 45,000 shares.

"GSE Systems (NYSE: GVP) designs and develops real-time simulation and training solutions for the nuclear and fossil fuel power as well as chemical process industries.

"The nuclear industry mandates the use of highly accurate simulators for both new nuclear plants and upgrades to existing plants, and a renewed global interest in nuclear power is helping to drive demand. 

"GVP recently announced several contract wins and is currently working on 8 new full scope nuclear power plant simulators.

"For fossil fuel plants, simulators are not mandated by law but are viewed as a cost effective way to train operators and maximize efficiency of an existing plant. Approximately 40% of 2008 revenues came from non-nuclear simulation.

"In the company’s latest reported fourth quarter, sales increased approximately 3% to $8.4 million from $8.1 million in the fourth quarter of last year. GSE Systems reported approximately breakeven earnings per share in the latest reported fourth quarter versus $.03 in the same quarter of last year. 

"Please note, when viewing the growth on a year over year basis, the year-ago fourth quarter benefited from approximately $1.8 million in revenues from a single sizable contract with the United Arab Emirates that has since been completed.

"Revenue growth in this most recent quarter increased approximately 33% versus the fourth quarter of last year excluding this contract.

"In addition, reported backlog at the end of the fourth quarter grew 54% versus the year-ago fourth quarter. Clients of Oberweis Asset Management own approximately 550,000 shares."