OSI Receives Contracts for Approximately $13.2 Million from International Customers for Its New Range of Checkpoint X-Ray System
September 21 2006 - 6:00AM
Business Wire
OSI Systems, Inc. (NASDAQ:OSIS), announced today that its security
division, Rapiscan Systems, has received multiple contracts, from
undisclosed international customers, totaling approximately $13.2
million for its new advanced Rapiscan 600 series of Baggage and
Parcel X-Ray systems. It is expected that shipment for these new
contracts will begin in the second quarter of fiscal 2007. Of the
multiple contracts received, one was from an international aviation
authority for in excess of 175 systems to be used for the
inspection of carry-on baggage at airline passenger security
checkpoints. Under the terms of this particular contract Rapiscan
will deliver its new Rapiscan 600XR Series technology platform,
which was designed in Windows XP to meet the next generation
requirements of performance and networking functionality. President
of Rapiscan Systems, Mr. Ajay Mehra stated, "These contract wins
underscore the continued strength we have seen for our Baggage and
Parcel Inspection systems. We believe that our new Rapiscan 600
series sets a new standard in checkpoint X-ray systems, and we are
pleased to see key customers endorsing this new series." 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 the sales of the Rapiscan 600 series X-ray systems. 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 Rapiscan 600 will continue to achieve
international customer support or support from new customers. 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.
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