OSI Systems Awarded IDIQ Service and Maintenance Contract Valued Up to $140 Million from U.S. Customs and Border Protection
July 26 2018 - 7:30AM
Business Wire
- Receives $25 million initial delivery
order
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ:
OSIS) announced today that its Security division has received a
five-year indefinite delivery, indefinite quantity (IDIQ) contract
valued up to $140 million from the United States Customs and Border
Protection (U.S. CBP) for the service and maintenance of its cargo,
vehicle, and parcel inspection systems. The Company also announced
that it has received an initial delivery order for approximately
$25 million to provide support services, including maintenance
services, logistics, parts, and program management required to
sustain the agency’s inspection systems.
“We are pleased to receive this IDIQ contract and initial
delivery order to help ensure that our Rapiscan® Systems and
AS&E® cargo, vehicle, and parcel inspection systems continue to
operate at peak performance,” said OSI Systems’ Chairman and CEO,
Deepak Chopra. “We are proud to continue to be a trusted resource
for this valued customer and assist in its important counter-drug
and anti-terrorism missions.”
About OSI Systems
OSI Systems 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. The Company 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 or any of its
subsidiary companies, visit www.osi-systems.com. News Filter:
OSIS-G
Forward-Looking Statements
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, and projections concerning matters that are
not historical facts. Forward-looking statements are not guarantees
of future performance and involve uncertainties, risks,
assumptions, and contingencies, many of which are outside OSI
Systems' control and which 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' most recently filed Annual Report on Form 10-K and
other risks described therein and in documents subsequently filed
by OSI Systems from time to time with the Securities and Exchange
Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20180726005282/en/
OSI Systems, Inc.Ajay Vashishat, 310-349-2237Vice
President, Business Developmentavashishat@osi-systems.com
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