Rapiscan Systems To Participate In TSA´s Security Technology Integrated Program
Phase one of the program will focus on the development, testing and
piloting of Rapiscan Systems Baggage and Parcel Inspection product
line. This initial contract award, with an estimated value of
$800,000 marks the start of the program. The second phase
involves the deployment of STIP upgraded equipment at the nations
busiest airports. The terms of the contract for the second phase have
yet to be finalized with the TSA.
This contract is an extension of Rapiscan Systems already extensive
footprint in, and understanding of, the U.S. airport system, said Ajay
Mehra, President of Rapiscan Systems. We applaud the TSA for
fostering public-private partnerships in order to develop
sophisticated, comprehensive solutions to todays complex security
challenges. We are very excited to be working with the Agency on
such an important issue.
Ultimately, STIP is expected to provide more accurate and timely
information to key decision makers throughout the TSA. To do so,
security equipment (metal detectors, X-ray machines, explosive
detection systems, etc.) will be connected as a network capable of
sending data between disparate sites and machines. The initiative
will also allow administrative and technical communications such as
streamlined security updates, alerting functions, remote maintenance
and monitoring and asset management.
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 companys 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.
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.
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 deployment of STIP equipment and the second phase of a
contract between Rapiscan and the TSA. The actual results may differ
materially from those described in or implied by any forward-looking
statement. In particular, there can be no assurance STIP will be
ultimately function as currently anticipated or in as many airports as
currently expected. 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.
For Further Information
OSI Systems Inc
Jeremy Norton Director of Investor Relations
12525 Chadron Ave
Hawthorne CA 90250
Tel: (310) 349 2237
E: jnorton@osi-systems.com
Jefferson Consulting
Amy Talley
Tel: (703) 323-8939
E: atalley@jeffersonconsulting.com