OSIS OSI Systems Inc

OSI Systems, Inc. (NASDAQ:OSIS) announced today that its security division, Rapiscan Systems, has received an order for approximately $5.0 million from an undisclosed international customer for multiple hybrid cargo and vehicle inspection systems. The Company expects to deliver the systems, which utilize both X-ray and neutron based technologies, within fiscal 2007. The hybrid cargo and vehicle inspections systems enable the customer to conduct a two-phase inspection process. During the first phase of inspection process, the contents of the container are scanned with the high energy X-Ray imaging technology of the Rapiscan Eagle. The image is then interpreted by the operator for manifest verification and threat detection. If, during the inspection process, a suspicious object is identified, the operator has the ability to scan the object, during a second phase, with the proprietary material-specific Thermal Neutron Analysis ("TNA") technology. The TNA technology automatically produces a "red light/green light" response for the operator indicating whether or not the suspicious object is a threat. This process minimizes human error in image interpretation and the associated cost incurred from having to manually inspect the contents of the container. In conjunction, these hybrid technologies, operating on a rail mounted gantry, will inspect inbound cargo/trucks at an undisclosed international border crossing. President of Rapiscan Systems, Ajay Mehra, stated, "We are excited about this contract because it further enhances our leadership and global presence in the cargo and vehicle inspection market. We have always maintained our commitment to be the broadest supplier of technologies for port and border security and screening allowing us the flexibility to provide customized proprietary hybrid security solutions to match the various security threats faced by our customers." 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 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. 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 our expectations, goals or intentions about the future, including, but not limited to, statements regarding sales of a combined Rapiscan Eagle and TNA technology hybrid cargo solution. 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 Rapiscan Systems will deliver the system in fiscal 2007, or that future sales of hybrid cargo systems such as those described herein will be significant. 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.