OSI Systems Awarded $7 Million Contract to Provide RTT Explosive Detection Systems
HAWTHORNE, Calif., Dec. 05, 2016 (GLOBE NEWSWIRE) -- 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.
OSI Systems, Inc.
Vice President, Business Development
Source: OSI Systems, Inc.
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