OSI Systems Receives Two Advanced Technology Contracts from the U.S. Domestic Nuclear Detection Office
December 04 2008 - 6:00AM
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 two advanced
technology demonstrator (ATD) contracts for $1.6 million from the
U.S. Domestic Nuclear Detection Office (DNDO). The contracts are
incrementally funded and if all options are subsequently exercised,
the total contract award could total approximately $14 million. The
first contract is for the development of a cargo inspection system
that is easily deployable and capable of automatically detecting
fissile special nuclear material (SNM) and differentiating it from
non-fissionable materials. The second contract is for the
development of a hybrid cargo inspection system that combines x-ray
imaging and neutron detection to identify nuclear fissionable
material. This hybrid system will incorporate the Company�s
proprietary Auto-Z algorithm that provides automatic detection of
high-atomic-number materials typically associated with nuclear
weapons as well as shielding materials used to diminish the
detection of nuclear weapons. Ajay Mehra, President of Rapiscan
Systems, stated, �These contracts require the unique combination of
the expertise of our staff in high-energy x-ray imaging, neutronics
as well as in mechanical, electrical and software engineering. Once
successfully completed, these threat detection and verification
technologies will provide an additional inspection capability that
can play an important role in protecting our nation from weapons of
mass destruction being smuggled into the country.� About OSI
Systems, Inc. OSI Systems, Inc. is a vertically integrated designer
and manufacturer of specialized electronic systems and components
for critical applications�in�the homeland security, healthcare,
defense and aerospace industries. We combine�more than 30 years
of�electronics engineering and manufacturing experience
with�offices and production facilities in more than a dozen
countries to�implement a strategy of expansion into selective end
product markets. For more information on OSI Systems Inc. or any of
its subsidiary companies, visit www.osi-systems.com. News Filter:
OSIS-G 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 predictions with regard to the prospective
performance of, and market acceptance of, its products. The actual
results may differ materially from those described in or implied by
any forward-looking statement. 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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