Sep 27, 2018

OSI Systems Receives First Order for Rapiscan 920CT Checkpoint Inspection Solution

HAWTHORNE, Calif.--(BUSINESS WIRE)--Sep. 27, 2018-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division received a contract to provide its Rapiscan®920CT checkpoint system with an integrated Tray Return System (TRS™), Metor® 6S High Sensitivity Metal Detector and Itemiser® 4DX Explosive Trace Detection systems for Avalon Airport near Melbourne, Australia. The Company’s products are expected to support Avalon’s expansion effort to become an international airport by December 2018.

OSI Systems’ Chairman and CEO, Deepak Chopra, stated, "We are pleased to receive our first 920CT order and support Avalon’s mission with our latest CT checkpoint technology enabling greater threat detection and passenger throughput."

The Rapiscan Systems 920CT is designed to increase the security and efficiency of checkpoint operations. The advanced threat detection software embedded within the system is capable of quickly identifying and highlighting potential threats. The 920CT has also been engineered to work in conjunction with the Company’s Rapiscan Tray Return System (TRS™). Earlier this year, the 920CT received Standard C2 approval by the European Civil Aviation Conference (ECAC) for airport checkpoints.

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 any of its subsidiary companies, visit 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 that may cause 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