OSI Systems Awarded $7 Million Contract to Provide RTT Explosive Detection Systems
December 05 2016 - 7:30AM
OSI Systems, Inc. (NASDAQ:OSIS) today announced that its Security
division has been awarded a contract valued at approximately $7
million from a major European Union international airport to
provide multiple Rapiscan RTT™ 110 (Real Time Tomography) Systems.
“We are excited to be selected by this customer to provide
RTTs,” said Deepak Chopra, OSI’s Chairman and CEO. “Our RTT checked
baggage solution is based on advanced technology that enables
higher throughput while achieving ECAC’s (Europe’s aviation
authority) latest detection standards.”
The RTT System employs a proprietary, solid-state approach to
provide high-resolution 3-D imaging, and its unique design allows
for the efficient inspection of hold baggage and air cargo. The RTT
System has passed the European Civil Aviation Conference’s (ECAC)
HBS EDS Standard 3 requirement and has since been deployed by
numerous airports and air logistics providers.
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 40 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
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