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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190123005234/en/
Source: OSI Systems, Inc.
OSI Systems, Inc.
Ajay Vashishat
Vice President,
Business Development
310-349-2237
avashishat@osi-systems.com
