OSI Systems Awarded U.S. Customs and Border Protection IDIQ Contract Valued up to $76 Million for ZBV Cargo and Vehicle Scre...
October 25 2016 - 7:30AM
OSI Systems, Inc. (NASDAQ:OSIS) today announced that its recently
acquired business, American Science and Engineering, Inc.
(AS&E), has been awarded an indefinite delivery, indefinite
quantity (IDIQ) contract from U.S. Customs and Border Protection
(CBP) for ZBV® cargo and vehicle screening systems and associated
service, maintenance, and training. The five-year ZBV IDIQ contract
is valued up to $76 million. AS&E also received the first
delivery order under the IDIQ contract valued at approximately $10
million. The ZBV systems with Tx-View™ options are expected to be
deployed for homeland security applications at security
checkpoints.
“The ZBV system has proven to be an essential tool
for rapid explosive and contraband detection in cargo and vehicles
at checkpoints around the world, and with the Tx-View option, the
system delivers even greater detection capability,” said Deepak
Chopra, OSI’s Chairman and CEO. “We are pleased to receive the ZBV
award to continue to support CBP’s critical homeland security
operations.”
About ZBV Mobile Cargo and Vehicle
Screening System
The ZBV system allows for immediate deployment and
rapid inspection to reveal explosives, drugs, currency, alcohol,
cigarettes, and other organic threats or contraband. The ZBV with
Tx-View option provides simultaneous dual-energy transmission
imaging and material discrimination for enhanced detection of
metallic threats, which complements the ZBV system’s proven Z
Backscatter® imaging.
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. OSI combines 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 OSI Systems. News Filter:
OSIS-G
Safe Harbor Statement This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements relate to OSI Systems’ current expectations, beliefs,
projections and similar expressions concerning matters that are not
historical facts and are not guarantees of future
performance. Forward-looking statements involve uncertainties,
risks, assumptions and contingencies, many of which are outside OSI
Systems’ control that may cause actual results to differ materially
from those described in or implied by any forward-looking
statements. All forward-looking statements are based on
currently available information and speak only as of the date on
which they are made. OSI Systems assumes no obligation to
update any forward-looking statement made in this press release
that becomes untrue because of subsequent events, new information
or otherwise, except to the extent it is required to do so in
connection with its ongoing requirements under Federal securities
laws. For a further discussion of factors that could cause OSI
Systems’ future results to differ materially from any
forward-looking statements, see the section entitled "Risk Factors"
in OSI Systems’ Annual Report on Form 10-K for the year
ended June 30, 2016 and other risks described in
documents filed by OSI Systems from time to time with
the Securities and Exchange Commission.
Contact:
OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com
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