Jan 23, 2019

OSI Systems Awarded 10-Year Contract for Cargo Turnkey Screening in Guatemala

HAWTHORNE, Calif.--(BUSINESS WIRE)--Jan. 23, 2019-- OSI Systems, Inc. (“Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its S2 Global business has entered into a 10-year contract to provide a complete turnkey screening solution for the Port of Santo Tomas de Castilla, the busiest port in Guatemala (as measured by container traffic). The Company will construct civil works, deliver and integrate Rapiscan® Eagle® P60 high-energy X-ray inspection systems, perform security screening and remote image analysis utilizing the CertScan® integration platform for 100% of the cargo (inbound, outbound and transshipped) and provide full life cycle support.

OSI Systems CEO Deepak Chopra stated, "We are pleased to add another important project to our growing portfolio of turnkey screening programs. Under this contract, we intend to build upon our prior experience and utilize our proprietary technologies and integration platforms –- including CertScan® -- to help the Port of Santo Tomas de Castilla with their plans to grow their traffic, operations and become a leader in the region and achieve breakthrough improvements in security, efficiency and revenue collection.”

OSI Systems has turnkey integrated services programs in operation with customs, border and port authorities worldwide, including the ongoing successful programs in Mexico, Puerto Rico and Albania. These integrated services programs have proven highly successful for each customer, improving public safety and security and increasing the accuracy of customs declarations. Under the program, the Company typically operates its cargo scanning equipment for the customer, manage, design and build inspection sites and information management networks, analyze the resulting images, and store the images matched with identifying data such as cargo manifests, customs declarations or vehicle license numbers.

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 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, such as, but not limited to, the implementation and management of complex, advanced, security-screening operations in a geographically-remote location, changes that may occur in the government or political climate in Guatemala over the lengthy period of performance, mechanisms for resolving project-related disputes should they arise and other presently-unforeseen challenges.Consequently, 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