OSI Systems Awarded TSA Contract

OSI Systems, Inc. (NASDAQ: OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the security and healthcare industries, announced today that its Security division, Rapiscan Systems, has been awarded an initial delivery order for deliveries at airport pilot locations and an Indefinite Delivery Indefinite Quantity Contract (IDIQ) with options up to $97 million from the Transportation Security Administration (TSA).  Under the terms of the agreement, the Company will provide its new 620AT X-ray system for the Advanced Technology (AT) Passenger Carry-On Bag Screening Program. 

Rapiscan Systems President, Mr. Ajay Mehra, said, As one of only three companies selected for this next phase, this announcement confirms Rapiscans ability to develop new products for emerging threats to our transportation infrastructure.  We look forward to working with the TSA in deploying these next generation systems and commend them for their continued commitment toward improving all phases of aviation security.

The Rapiscan 620AT system is designed specifically to detect aviation based threats while improving checkpoint operations.  The 620AT represents one of the most advanced checkpoint inspection systems in the world with multiple views and dual energy X-ray sources for material discrimination. 

About OSI Systems, Inc.

OSI Systems, Inc. and its subsidiaries is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The company sells its products in diversified markets, including homeland security, healthcare, defense and aerospace.  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 companys 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 the companys expectations, goals or intentions about the future, including, the amount of future orders under the companys contract with the Transportation Security Administration .  The actual results may differ materially from those described in or implied by any forward-looking statement. Other important factors are set forth in the Securities and Exchange Commission filings OSI Systems, Inc. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
 

For Further Information

OSI Systems Inc
Jeremy Norton Director, Investor Relations                       
12525 Chadron Ave
Hawthorne CA 90250
Tel: (310) 349 2237
E: jnorton@osi-systems.com