OSI Systems Receives Approximately $6 Million in New Orders for Advanced Personnel Screening Solution
May 13 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 its Security division, Rapiscan Systems, has been
awarded multiple customer contracts with a combined value of
approximately $6 million for its Rapiscan Secure 1000 personnel
screening system. The value of these orders raises the total value
of orders received for the Rapiscan Secure 1000 system in the
Company’s fiscal year ending June 30, 2010, to approximately $50
million.
Ajay Mehra, President of Rapiscan Systems, stated, “Following on
from our recently announced order from the US Transportation
Security Administration, these most recent contract awards from
multiple customers demonstrate the growing demand for the Secure
1000 product line globally. We are seeing significant customer
interest in the Rapiscan Secure 1000, not only in aviation but for
other security applications due to the systems proprietary
technology which offers customers the best combination of security
and operational efficiency, as it can detect small, non-metallic
concealed threats very quickly and with excellent image resolution.
This means that there is better threat detection, fewer false
alarms and a reduced need for physical patdown searches.”
Used by aviation authorities, military organizations, homeland
security, and police and correctional facilities, the Rapiscan
Secure 1000 family of body scanners is one of the world’s most
widely deployed advanced people screening solutions. The Rapiscan
Secure 1000 family of technologies has been approved by regulators
worldwide and is being deployed at airports globally. Its
proprietary backscatter technology and image processing software
enables the system to produce high-resolution images that allow an
operator to easily identify concealed threat and contraband items.
It is ideal for high security environments because unlike
traditional metal detectors, it can detect organic and non-metallic
items (e.g. plastic explosives, liquids, narcotics, ceramic
weapons), as well as metallic threat items. Using the Rapiscan
Secure 1000’s imaging capability, security screeners can detect
concealed objects without a physical patdown search. By reducing
false alarms and by making it easier to pinpoint the location of
concealed items, the Rapiscan Secure 1000 also significantly
improves checkpoint throughput and staffing efficiency.
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, the Company's contracts to provide its inspection
systems. The actual results may differ materially from those
described in or implied by any forward-looking statement. In
particular, the 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 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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