HAWTHORNE, Calif., Oct. 25, 2016 (GLOBE NEWSWIRE) -- OSI Systems, Inc. (NASDAQ:OSIS) today announced that its recently acquired business, American Science and Engineering, Inc. (AS&E), has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract from U.S.
Customs and Border Protection (CBP) for ZBV® cargo and vehicle screening systems and associated service, maintenance, and training. The five-year ZBV IDIQ contract is valued up to $76 million. AS&E also received the first delivery order under the IDIQ contract valued at approximately $10 million. The ZBV systems with Tx-View™
options are expected to be deployed for homeland security applications at security checkpoints.
"The ZBV system has proven to be an essential tool for rapid explosive and contraband detection in cargo and vehicles at checkpoints around the world, and with the Tx-View option, the system delivers even greater detection capability," said Deepak Chopra, OSI's Chairman and CEO. "We are pleased to receive the ZBV award to continue to support CBP's critical homeland security operations."
About ZBV Mobile Cargo and Vehicle Screening System
The ZBV system allows for immediate deployment and rapid inspection to reveal explosives, drugs, currency, alcohol, cigarettes, and other organic threats or contraband. The ZBV with Tx-View option provides simultaneous dual-energy transmission imaging and material discrimination for enhanced detection of metallic threats, which complements the ZBV system's proven Z Backscatter® imaging.
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 30 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
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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