Sep 21, 2006
OSI Receives Contracts For Approximately $13.2 Million From International Customers For Its New Range Of Checkpoint X-Ray Systems
OSI Receives Contracts For Approximately $13.2 Million From International Customers For Its New Range Of Checkpoint X-Ray Systems
OSI Receives Contracts For Approximately $13.2 Million From International Customers For Its New Range Of Checkpoint X-Ray SystemsOSI Systems, Inc. (NASDAQ: OSIS), announced today that its security division, Rapiscan Systems, has received multiple contracts, from undisclosed international customers, totaling approximately $13.2 million for its new advanced Rapiscan 600 series of Baggage and Parcel X-Ray systems. It is expected that shipment for these new contracts will begin in the second quarter of fiscal 2007.
Of the multiple contracts received, one was from an international aviation authority for in excess of 175 systems to be used for the inspection of carry-on baggage at airline passenger security checkpoints. Under the terms of this particular contract Rapiscan Systems will deliver its new Rapiscan 600XR Series technology platform; which was designed in Windows XP to meet the next generation requirements of performance and networking functionality.
President of Rapiscan Systems, Mr. Ajay Mehra stated, These contract wins underscores the continued strength we have seen for our Baggage and Parcel Inspection systems. We believe that our new Rapiscan 600 series sets a new standard in checkpoint X-ray systems, and are pleased to see key customers endorsing this new series.
About OSI Systems, Inc.
OSI Systems, Inc. is a Hawthorne, California - based diversified global developer, manufacturer and seller of security and inspection systems, medical monitoring and anesthesia products, and optoelectronic devices and value-added subsystems. 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. OSI Systems 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.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc., is a leading supplier of high quality 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 50,000 security and inspection systems. 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.
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 our expectations, goals or intentions about the future, including, but not limited to, statements regarding the sales of the Rapiscan 600 series X-ray systems. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, there can be no assurance that the Rapiscan 600 will continue to achieve international customer support or support from new customer. Other important factors are set forth in our Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements.
Of the multiple contracts received, one was from an international aviation authority for in excess of 175 systems to be used for the inspection of carry-on baggage at airline passenger security checkpoints. Under the terms of this particular contract Rapiscan Systems will deliver its new Rapiscan 600XR Series technology platform; which was designed in Windows XP to meet the next generation requirements of performance and networking functionality.
President of Rapiscan Systems, Mr. Ajay Mehra stated, These contract wins underscores the continued strength we have seen for our Baggage and Parcel Inspection systems. We believe that our new Rapiscan 600 series sets a new standard in checkpoint X-ray systems, and are pleased to see key customers endorsing this new series.
About OSI Systems, Inc.
OSI Systems, Inc. is a Hawthorne, California - based diversified global developer, manufacturer and seller of security and inspection systems, medical monitoring and anesthesia products, and optoelectronic devices and value-added subsystems. 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. OSI Systems 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.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc., is a leading supplier of high quality 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 50,000 security and inspection systems. 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.
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 our expectations, goals or intentions about the future, including, but not limited to, statements regarding the sales of the Rapiscan 600 series X-ray systems. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, there can be no assurance that the Rapiscan 600 will continue to achieve international customer support or support from new customer. Other important factors are set forth in our Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements.
For Further Information
OSI Systems Inc
Jeremy Norton Director of Investor Relations
12525 Chadron Ave
Hawthorne CA 90250
Tel: (310) 349 2237
E: jnorton@osi-systems.com