Rapiscan Systems Announces Contract for Approximately $16 Million of Multiple Eagle(R) Cargo & Vehicle Inspection Systems
September 12 2005 - 6:21PM
Business Wire
Rapiscan Systems, a division of OSI Systems, Inc. (NASDAQ:OSIS),
today announced that it has received a contract for approximately
$16 million of multiple models of its high-energy Eagle(R) cargo
inspection systems. The order was received from an undisclosed
customer and will be delivered in fiscal 2006. The advanced
technology of the Eagle cargo inspection systems have been deployed
by Rapiscan Systems for use at seaports and border crossings
globally. In June 2005, Commissioner of Customs and Border
Protection, Robert C. Bonner, held a news conference at the Port of
Baltimore to showcase the Eagle technology, which he referred to as
a "unique tool in our arsenal of detection technology to protect
our country." He went on to say, "The Eagle helps us accomplish two
goals, our twin goals: achieving increased security against the
terrorist threat, and doing so without shutting down the flow of
trade and damaging our economy." Ajay Mehra, President of Rapiscan
Systems, stated, "The Eagle's value proposition of high inspection
performance and high inspection rates has resonated tremendously
with our global customers. This advanced technology enhances the
accuracy of the inspection of cargo and increases the number of
containers inspected while minimizing the impact on the flow of
commerce. The customer that we are referencing understands this
implicitly." The X-ray imaging technology used in the Eagle cargo
inspection systems was developed in conjunction with the DHS
Customs and Border Protection specifically to address security
needs at land and sea ports of entry. The Eagle is capable of
penetrating dense cargo, producing high-quality images immediately
available to an on-board inspector or inspectors viewing the images
after their transmission to a remote facility. The Eagle is
available in mobile, fixed, locally mobile and relocatable
configurations providing the highest cargo penetration of all such
systems enabling the rapid and accurate inspection of even dense
cargo. About Rapiscan Systems Rapiscan Systems, a division of OSI
Systems, is a leading supplier of high-quality security inspection
solutions utilizing X-ray and gamma-ray imaging, and advanced
threat identification techniques such as neutron and diffraction
analysis. The company's products are sold into four market
segments: Baggage and Parcel Inspection, Cargo and Vehicle
Inspection, Hold Baggage Screening and People Screening. The
company has an installed base globally of more than 50,000 security
and inspection systems. The Rapiscan Systems product lines are
manufactured at four locations worldwide and are supported by a
global support service network. For more information on Rapiscan
Systems, please visit www.rapiscansystems.com. About OSI Systems,
Inc. OSI Systems Inc. is a Hawthorne, California based diversified
global developer, manufacturer and seller of security and
inspection systems, medical monitoring and anesthesia delivery
products, and optoelectronic-based components, as well as a
provider of engineering and manufacturing services. The company has
more than 30 years of experience in electronics engineering and
manufacturing and maintains offices and production facilities
located in more than a dozen countries. OSI Systems implements a
strategy of expansion by leveraging its electronics and contract
manufacturing capabilities into selective end product markets
through organic growth and acquisitions. For more information on
OSI Systems Inc. or any of its subsidiary companies, please visit
www.osi-systems.com. This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such statements include information regarding
our expectations, including, but not limited to the decisions that
may be made by government officials, specifications of our products
as compared to our competitors. The actual results may differ
materially from those described in or implied by any
forward-looking statement. In particular, there can be no assurance
that the statements by government officials will be in line with
our current expectations or that positive statements will directly
or even indirectly lead to new orders for our products. Other
important factors are set forth in our Securities and Exchange
Commission filings. All forward-looking statements speak only as of
the date made, and we undertake no obligation to update these
forward-looking statements.
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