Jan 31, 2006
Rapiscan Systems Recieves First Order For Its New Multi-View X-Ray System For Hold (Checked) Baggage Screening
Rapiscan Systems Recieves First Order For Its New Multi-View X-Ray System For Hold (Checked) Baggage Screening
Rapiscan Systems Recieves First Order For Its New Multi-View X-Ray System For Hold (Checked) Baggage ScreeningRapiscan Systems, a division of OSI Systems, Inc. (NASDAQ: OSIS)
announced today that it had received its first order for the recently
released Rapiscan MVXR5000 Inline Automated Hold Baggage Screening
System (HBS) for checked baggage. The order was part of an
approximate $1 million contract the company received from an
undisclosed international customer. The order also included multiple
conventional X-ray baggage inspection systems and peripheral security
devices. It is expected that the systems will be delivered and
installed over the next three to six months.
The market for HBS Systems traditionally has been shared between L3 Communications Holdings, Inc. and Smiths Heimann a division of Smiths Group, PLC. Rapiscan Systems intends to market its newly released Rapiscan MVXR5000 to its established global aviation customer base both for replacement cycle business and also new installations. The company estimates that the aviation market for Inline HBS systems, outside of the U.S., is approximately several hundred systems over the next five years.
President of Rapiscan Systems, Ajay Mehra, stated, We are pleased today to announce our first order for the Rapiscan MVXR5000, our first product offering in the Inline Automated HBS market. This order highlights the companys ability to leverage its position as a global leader in the aviation security market to drive sales in the HBS market. We intend to continue leveraging this position and our installed base of aviation x-ray systems as we market the Rapiscan MVXR5000 globally.
Rapiscan Systems had announced on December 12, 2005 that the Rapiscan MVXR5000 had been approved for use by the United Kingdom (UK) Department for Transport (DfT). The DfT designation allows Rapiscan Systems to sell the Rapiscan MVXR5000 system in the UK and international aviation markets. The system provides the operator with enhanced image and dual-energy X-ray images that enable automated explosives detection.
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 sales of the Rapiscan MVXR5000 and the entry into and performance of Rapiscan Systems in the hold baggage screening systems market. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, there can be no assurance that Rapiscan Systems will be able to leverage its position as a global leader in the conventional baggage screening market to drive sales in the hold baggage screening market, that Rapiscan Systems internal estimates of global market opportunities will prove accurate, that its current marketing plans will remain constant, or that future sales of the MVXR5000 will occur or be significant. 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
(310) 349 2237
Jefferson Consulting
Amy Talley
Tel: 703-323-8939
E: atalley@jeffersonconsulting.com
The market for HBS Systems traditionally has been shared between L3 Communications Holdings, Inc. and Smiths Heimann a division of Smiths Group, PLC. Rapiscan Systems intends to market its newly released Rapiscan MVXR5000 to its established global aviation customer base both for replacement cycle business and also new installations. The company estimates that the aviation market for Inline HBS systems, outside of the U.S., is approximately several hundred systems over the next five years.
President of Rapiscan Systems, Ajay Mehra, stated, We are pleased today to announce our first order for the Rapiscan MVXR5000, our first product offering in the Inline Automated HBS market. This order highlights the companys ability to leverage its position as a global leader in the aviation security market to drive sales in the HBS market. We intend to continue leveraging this position and our installed base of aviation x-ray systems as we market the Rapiscan MVXR5000 globally.
Rapiscan Systems had announced on December 12, 2005 that the Rapiscan MVXR5000 had been approved for use by the United Kingdom (UK) Department for Transport (DfT). The DfT designation allows Rapiscan Systems to sell the Rapiscan MVXR5000 system in the UK and international aviation markets. The system provides the operator with enhanced image and dual-energy X-ray images that enable automated explosives detection.
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 sales of the Rapiscan MVXR5000 and the entry into and performance of Rapiscan Systems in the hold baggage screening systems market. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, there can be no assurance that Rapiscan Systems will be able to leverage its position as a global leader in the conventional baggage screening market to drive sales in the hold baggage screening market, that Rapiscan Systems internal estimates of global market opportunities will prove accurate, that its current marketing plans will remain constant, or that future sales of the MVXR5000 will occur or be significant. 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
(310) 349 2237
Jefferson Consulting
Amy Talley
Tel: 703-323-8939
E: atalley@jeffersonconsulting.com