OSI Systems, Inc.
OSI SYSTEMS INC (Form: 8-K, Received: 01/16/2018 13:04:53)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

FORM 8-K

 


 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 16, 2018

 


 

OSI SYSTEMS, INC.

(EXACT NAME OF REGISTRANT SPECIFIED IN CHARTER)

 


 

DELAWARE

 

000-23125

 

330238801

(STATE OR OTHER JURISDICTION
OF INCORPORATION)

 

(COMMISSION
FILE NUMBER)

 

(IRS EMPLOYER
IDENTIFICATION NO.)

 

12525 CHADRON AVENUE

HAWTHORNE, CA 90250

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)

 

(310) 978-0516

(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)

 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o                  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o                  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o                  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o                  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

 

Emerging growth company  o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

 

 

 



 

Item 8.01             Other Events.

 

On January 16, 2018, OSI Systems, Inc. (the “Company”) issued a press release announcing that its Security division signed a two-year contract for a value of up to $130 million with Servicio de Administración Tributaria (SAT), Mexico’s tax and customs authority, to continue providing security inspection services through a wide-ranging program utilizing cargo and vehicle screening systems throughout Mexico.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01            Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1

 

Press Release of OSI Systems, Inc. dated January 16, 2018

 

EXHIBIT INDEX

 

Exhibit No. 

 

Description

 

 

 

99.1

 

Press Release of OSI Systems, Inc. dated January 16, 2018

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

OSI SYSTEMS, INC.

Date: January 16, 2018

 

 

 

 

 

By:

/ S/    Victor Sze

 

 

Victor Sze

 

 

 

 

 

Executive Vice President, General Counsel and Secretary

 

2


Exhibit 99.1

 

OSI Systems Signs Two-Year Contract to Continue Turnkey Screening Services in Mexico

 

HAWTHORNE, Calif. January 16, 2018—(BUSINESS WIRE)—OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that, as a follow on to its existing contract, OSI Systems’ Security division has signed a new two-year agreement with Servicio de Administración Tributaria (SAT), Mexico’s tax and customs authority, to continue providing security inspection services through a wide-ranging program utilizing cargo and vehicle screening systems throughout Mexico.

 

“The anticipated sales from the new agreement are consistent with our expectations, which were reflected in the financial guidance for fiscal 2018 we previously provided,” said OSI Systems’ Chairman and CEO, Deepak Chopra. The agreement is for a value of up to $130 million over a two-year period beginning January 14, 2018, subject to currency fluctuations and variation in scope.

 

Mr. Chopra commented, “We are excited to continue the very successful border security screening program in Mexico that we started in 2012.  This contract is a testament to the performance of our technology and our people, and the significant role this program has played in public safety and in law enforcement efforts against the smuggling of contraband.”

 

Pursuant to the agreement, the Company will continue to operate a comprehensive x-ray screening program incorporating technology, staffing, systems integration, and maintenance support at sites throughout Mexico.

 

About OSI Systems

 

OSI Systems 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. The Company 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 or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

 

Forward-Looking Statements

 

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’ most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.

 

SOURCE: OSI Systems, Inc.

 

OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com