OSI Systems Receives $16 Million Delivery Order from TSA for Advanced Imaging Technology
April 29 2010 - 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, today
announced that it has received an approximate $16 million order
from the U.S. Transportation Security Administration (TSA) for
multiple units of its Secure 1000 Single Pose Advanced Imaging
Technology (AIT) systems—funded under the American Recovery and
Reinvestment Act. This is the second order to be placed under
Rapiscan’s Indefinite Delivery, Indefinite Quantity (IDIQ) contract
received from TSA in September 2009 for up to $173M.
The Secure 1000 Single Pose is on the Transportation Security
Administration’s Qualified Products List and is currently being
deployed at airports throughout the U.S. The systems will be
manufactured at the company’s Ocean Springs, Mississippi
facility.
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and
manufacturer of specialized electronic systems and components for
critical applications. The Company sells its products in
diversified markets, including homeland security, healthcare,
defense and aerospace. 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. It 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. News Filter:
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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, order that may be placed under the IDIQ contract issued
to Rapiscan Systems. The actual results may differ materially from
those described in or implied by any forward-looking statement. In
particular, because the contract is an IDIQ arrangement, the
Government may not ultimately place orders with Rapiscan Systems
for the full contract amount. Other important factors are set forth
in the Securities and Exchange Commission filings 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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