OSI Systems Receives Orders for $35M for Advanced Aviation Checkpoint X-Ray Systems
HAWTHORNE, Calif., Sep 22, 2010 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ:OSIS), a vertically-integrated provider of specialized electronics and services, today announced that its Security division, Rapiscan Systems, has received orders from the Transportation Security Administration (TSA) totaling $35 million for the Rapiscan 620DV Advanced Technology (AT) checkpoint X-ray baggage inspection system. The delivery orders are among the first to be placed by TSA under the terms of a five year Indefinite Delivery, Indefinite Quantity (IDIQ) contract. The 620DV AT systems will be deployed by TSA at airport checkpoints in the United States, where they will be used to screen passengers' carry-on baggage.
Deepak Chopra, CEO of OSI Systems, commented: "TSA is widely regarded as one of the most demanding customers in terms of advanced threat detection, product reliability and operational performance. This order from TSA confirms that the Rapiscan 620DV is truly a state-of-the-art aviation threat detection solution that also improves checkpoint efficiency and the experience of passengers."
The Rapiscan 620DV is an advanced checkpoint screening system that uses advanced technology to automatically indicate potential threats while improving checkpoint efficiency. The 620DV's proprietary multiple view X-ray technology provides systems operators with a more comprehensive view of the items screened, which in turn reduces the need for time consuming re-scanning of bags as they go through a checkpoint. To date, Rapiscan has received orders for approximately 1,000 620DV systems which have been deployed to airports worldwide.
Ajay Mehra, President of Rapiscan Systems commented: "We are very pleased that TSA has selected the 620DV for deployment at U.S. airports. The system's flexibility, along with its outstanding technical and operational capabilities, ensures that it will remain a key contributor to aviation security for years to come."
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. We combine 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 www.osi-systems.com. News Filter: OSIS-G
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc. is a leading global supplier of security inspection solutions utilizing X-ray and gamma-ray imaging, and advanced threat identification techniques such as neutron and diffraction analysis. The company's 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 70,000 security and inspection systems. The Rapiscan Systems product line is manufactured at four locations and supported by a global support service network. The company was recognized for its market leadership with one of the United Kingdom's most prestigious distinctions, The Queen's Awards for Enterprise, and named by Frost & Sullivan as the 2008 North American Homeland Security Inspection and Screening Company of the Year. For more information on Rapiscan Systems, please visit www.rapiscansystems.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 the company's expectations, goals or intentions about the future, including expectations relating to the amount of the Company's potential revenues under the indefinite-delivery/indefinite-quantity contract referenced above. The actual results may differ materially from those described in or implied by any forward-looking statement.
SOURCE: OSI Systems, Inc.
OSI Systems Inc
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com
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