OSI Systems Receives Approximately $7 Million in Contract Orders from U.S. Government
May 10 2007 - 8:00AM
Business Wire
OSI Systems, Inc. (NASDAQ:OSIS), a vertically integrated provider
of specialized electronic products for critical applications in the
Security and Healthcare industries, announced today that its
Security division, Rapiscan Systems, received approximately $7
million in contract orders from two undisclosed U.S. Government
Agencies for its Eagle Gantry, Gamma Radiographic Detection Systems
(GaRDS) Gantry and Secure 1000 systems. Delivery of the units will
begin immediately. Ajay Mehra, President of Rapiscan Systems,
stated, �We continue to grow our business with the U.S. Government.
Our comprehensive product mix and global reach enable us to tailor
protection solutions for a variety of environments." Rapiscan
Systems� Eagle is a high-performance 6 MeV X-ray inspection system
that rapidly and accurately inspects containers and trucks at
seaports and land border crossings. The Eagle's high-energy X-ray
imaging system can produce a high-resolution image of a 20-foot
container in less than 30 seconds. Even dense cargo can be clearly
imaged � dramatically reducing the need for time consuming manual
inspections. The Rapiscan Gamma product line detects hidden
contraband, including weapons, explosives, weapons of mass
destruction, drugs and undeclared goods. The systems have an
intrinsically lower radiation field when compared to equivalent
X-ray systems. They require a smaller operational area and
exclusion safety zone than other inspection systems. As with the
Eagle, Rapiscan Systems has deployed numerous GaRDS units to other
parts of the United States and other government customers around
the world. The Company�s proprietary backscatter X-ray technology
is embedded within the Rapiscan Secure 1000 personnel screener, a
non-intrusive system designed to detect metallic and nonmetallic
threat objects. The unit enables security personnel to detect
ceramic, plastic, metallic, organic, and other contraband or
security threats. It also provides a comprehensive body search in
seconds, eliminating the need for intrusive and less-effective
hands-on body searches by security personnel. About OSI Systems,
Inc. OSI Systems, Inc. is a 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, visit www.osi-systems.com.
About Rapiscan Systems Rapiscan Systems, a division of OSI Systems,
Inc. 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 line is
manufactured at four locations and supported by a global support
service network. For more information on Rapiscan Systems, please
visit www.rapiscansystems.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 the company�s expectations, goals or
intentions about the future, including, the company�s contract with
the U.S. Government. The actual results may differ materially from
those described in or implied by any forward-looking statement. In
particular, the performance, timing, and delivery of the systems
may not ultimately remain in line with the company�s current
expectations. Other important factors are set forth in the
Securities and Exchange Commission filings of OSI Systems, Inc. All
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.
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