OSI Systems Receives $24 Million Order for Eagle(R) Cargo and Vehicle Inspection Systems
HAWTHORNE, Calif., Oct 11, 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 an order for approximately $24 million from a U.S. government agency for Rapiscan Eagle(R) mobile high energy X-ray cargo and vehicle inspection systems.
OSI Systems President and CEO, Deepak Chopra commented: "We are pleased to receive this contract to provide our most advanced mobile cargo and vehicle inspection system." Mr. Chopra continued: "The Eagle series features proprietary transmission X-ray technology which allows operators to perform comprehensive inspection of densely packed cargos. With its rapid deployment and advanced inspection capabilities, the Eagle not only offers the highest level of threat detection, but it can also improve customer operational effectiveness."
The Rapiscan Eagle is a road-mobile cargo and vehicle inspection system that can be deployed for inspection at a port, checkpoint or border crossing in less than 20 minutes. It features advanced transmission x-ray technology that can identify the presence of hidden contraband, such as weapons, explosives and narcotics. The system can also be configured to detect radioactive material and can operate in either drive-by or drive through portal mode, which allows operators to adapt the Eagle to their inspection requirements. In addition, the Eagle inspection system can be equipped with Rapiscan's proprietary CabScan(TM) technology, which allows an occupied driver cab to be safely scanned with a low energy X-ray beam, while the container is scanned with high energy X-ray.
Ajay Mehra, President of Rapiscan Systems commented: "We look forward to supporting our customer as they deploy the Eagle inspection systems. This contract win shows the continuing acceptance of Eagle cargo and vehicle inspection products as we set the industry standard for detection excellence, throughput and reliability."
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 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 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
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 solutions to the Security industry. 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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