Rapiscan Systems Receives Contract and Order from U.S. Customs and Border Control for Cargo and Vehicle Inspection Systems
November 07 2005 - 7:00AM
Business Wire
Rapiscan Systems, a division of OSI Systems, Inc. (Nasdaq:OSIS),
today announced that it has received a purchase order from United
States Customs and Border Patrol ("CBP") for Cargo and Vehicle
Inspection systems. Due to competitive reasons, the company chooses
not to disclose the value of the contract or the quantity of
systems ordered. The order is expected to be delivered within
fiscal 2006. The contract is part of a five year Indefinite
Delivery Infinite Quantity ("IDIQ") contract executed with the CBP
for the company's Rapiscan Eagle, Rapiscan Vehicle Explosives
Detection System ("VEDS"), Rapiscan Radiological Threat Inspection
Systems ("RTIS") and Rapiscan Gamma product lines, including
respective training and support. The IDIQ allows the CBP to
purchase at their discretion these products identified in the
contract. President of Rapiscan Systems Ajay Mehra stated, "We are
very excited about the IDIQ contract win allowing us to further
strengthen our ongoing relationship with the CBP. This win may
result in additional orders in option contract years -- allowing us
to continue our commitment to working with the federal government
in securing our nation's ports and border crossings." 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. Rapiscan Systems has deployed numerous Rapiscan Gamma
units to other parts of the United States Government and other
government customers around the world. The advanced technology of
the Rapiscan Eagle cargo inspection systems have been deployed by
Rapiscan Systems for use at seaports and border crossings
domestically and internationally. The Rapiscan Eagle is available
in mobile, fixed, locally mobile and relocatable configurations.
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. About OSI Systems, Inc. OSI Systems
Inc. is a Hawthorne, Calif.-based diversified global developer,
manufacturer and seller of security and inspection systems, medical
monitoring and anesthesia products, and optoelectronic devices and
value-added subsystems. 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. 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, goals or
intentions about the future, including, but not limited to,
statements regarding future orders by the CPB. 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 CPB will place additional orders under the IDIQ contract.
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.
OSI Systems (NASDAQ:OSIS)
Historical Stock Chart
From Jun 2024 to Jul 2024
OSI Systems (NASDAQ:OSIS)
Historical Stock Chart
From Jul 2023 to Jul 2024