OSI Systems Receives Approximately $6 Million in New Orders for Advanced Personnel Screening Solution
HAWTHORNE, Calif., May 13, 2010 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ:OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the Security and Healthcare industries, today announced that its Security division, Rapiscan Systems, has been awarded multiple customer contracts with a combined value of approximately $6 million for its Rapiscan Secure 1000 personnel screening system. The value of these orders raises the total value of orders received for the Rapiscan Secure 1000 system in the Company's fiscal year ending June 30, 2010, to approximately $50 million.
Ajay Mehra, President of Rapiscan Systems, stated, "Following on from our recently announced order from the US Transportation Security Administration, these most recent contract awards from multiple customers demonstrate the growing demand for the Secure 1000 product line globally. We are seeing significant customer interest in the Rapiscan Secure 1000, not only in aviation but for other security applications due to the systems proprietary technology which offers customers the best combination of security and operational efficiency, as it can detect small, non-metallic concealed threats very quickly and with excellent image resolution. This means that there is better threat detection, fewer false alarms and a reduced need for physical patdown searches."
Used by aviation authorities, military organizations, homeland security, and police and correctional facilities, the Rapiscan Secure 1000 family of body scanners is one of the world's most widely deployed advanced people screening solutions. The Rapiscan Secure 1000 family of technologies has been approved by regulators worldwide and is being deployed at airports globally. Its proprietary backscatter technology and image processing software enables the system to produce high-resolution images that allow an operator to easily identify concealed threat and contraband items. It is ideal for high security environments because unlike traditional metal detectors, it can detect organic and non-metallic items (e.g. plastic explosives, liquids, narcotics, ceramic weapons), as well as metallic threat items. Using the Rapiscan Secure 1000's imaging capability, security screeners can detect concealed objects without a physical patdown search. By reducing false alarms and by making it easier to pinpoint the location of concealed items, the Rapiscan Secure 1000 also significantly improves checkpoint throughput and staffing efficiency.
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products in diversified markets, including homeland security, healthcare, defense and aerospace. 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. It 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. News Filter: OSIS-G
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 the company's expectations, goals or intentions about the future, including, the Company's contracts to provide its inspection systems. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the timing, and delivery of the systems may not ultimately remain in line with the Company's current expectations. Other important factors are set forth in the Securities and Exchange Commission filings OSI Systems, Inc. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
SOURCE: OSI Systems, Inc.
OSI Systems, Inc.
Jeremy Norton
Vice President, Investor Relations
310-349-2372
jnorton@osi-systems.com
Copyright Business Wire 2010