OSI Systems Receives Approximately $3.1 Million Contract from US Navy for Weather Resistant X-Ray Machines
The X-ray machines, to be delivered in the short term, have been specifically designed for the US Navy with the ability to operate in all weather conditions. They can be easily deployed and located on US Navy ships, and at Navy ports and facilities worldwide.
"We have been working with the US Navy for several months to design a system that would be able to operate in all weather conditions without compromising performance. These customized weather-resistant conventional X-ray machines are a testament to our engineering and design team at Rapiscan," stated Ajay Mehra, President of the OSI Systems Security Group. "The conventional X-ray machines will also compliment our existing line of weatherproof walk through metal detectors, creating a complete security checkpoint solution, ideal for outdoor commercial and public entertainment venues."
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 products, and optoelectronic-based components, as well as a provider of engineering and manufacturing services. 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 Security Products, Inc.
Rapiscan Security Products (U.S.A.), Inc. a wholly owned subsidiary of OSI Systems, Inc. is a leading supplier of high quality X-ray screening and explosive detection systems. The company has delivered thousands of these detection systems to customers worldwide for use in airports, customs facilities, courthouses, government buildings, mail rooms, schools, prisons, embassies, and other locations. The Rapiscan product line, marketed under the Rapiscan, Metor, and Secure brand names, is manufactured at four global locations and offers a wide range of security screening systems with diverse technologies. For more information on Rapiscan Security Products (U.S.A.), Inc., please visit www.rapiscan.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 delivery of X-ray machines to the U.S. Navy. 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 such X-ray machines will operate under all conditions to which they may become subjected or that a significant market will develop for outdoor commercial and public entertainment venues. 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.