Sep 12, 2005
Rapiscan Systems Announces Contract for Approximately $16 Million of Multiple Eagle(R) Cargo & Vehicle Inspection Systems
Rapiscan Systems Announces Contract for Approximately $16 Million of Multiple Eagle(R) Cargo & Vehicle Inspection Systems
Rapiscan Systems Announces Contract for Approximately $16 Million of Multiple Eagle(R) Cargo & Vehicle Inspection SystemsRapiscan Systems, a division of OSI Systems, Inc.
(NASDAQ:OSIS - News), today announced that it has received a contract
for approximately $16 million of multiple models of its high-energy
Eagle cargo inspection systems. The order was received from an
undisclosed customer and will be delivered in fiscal 2006.
The advanced technology of the Eagle cargo inspection systems have been deployed by Rapiscan Systems for use at seaports and border crossings globally. In June 2005, Commissioner of Customs and Border Protection, Robert C. Bonner, held a news conference at the Port of Baltimore to showcase the Eagle technology, which he referred to as a "unique tool in our arsenal of detection technology to protect our country." He went on to say, "The Eagle helps us accomplish two goals, our twin goals: achieving increased security against the terrorist threat, and doing so without shutting down the flow of trade and damaging our economy."
Ajay Mehra, President of Rapiscan Systems, stated, "The Eagle's value proposition of high inspection performance and high inspection rates has resonated tremendously with our global customers. This advanced technology enhances the accuracy of the inspection of cargo and increases the number of containers inspected while minimizing the impact on the flow of commerce. The customer that we are referencing understands this implicitly."
The X-ray imaging technology used in the Eagle cargo inspection systems was developed in conjunction with the DHS Customs and Border Protection specifically to address security needs at land and sea ports of entry. The Eagle is capable of penetrating dense cargo, producing high-quality images immediately available to an on-board inspector or inspectors viewing the images after their transmission to a remote facility. The Eagle is available in mobile, fixed, locally mobile and relocatable configurations providing the highest cargo penetration of all such systems enabling the rapid and accurate inspection of even dense cargo.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, 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 company's 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 lines are manufactured at four locations worldwide and are supported by a global support service network. For more information on Rapiscan Systems, please visit www.rapiscansystems.com.
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 and anesthesia delivery 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, please visit www.osi-systems.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, including, but not limited to the decisions that may be made by government officials, specifications of our products as compared to our competitors. 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 the statements by government officials will be in line with our current expectations or that positive statements will directly or even indirectly lead to new orders for our products. 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.
Contact:
OSI Systems
Jeremy Norton, 310-349-2237
The advanced technology of the Eagle cargo inspection systems have been deployed by Rapiscan Systems for use at seaports and border crossings globally. In June 2005, Commissioner of Customs and Border Protection, Robert C. Bonner, held a news conference at the Port of Baltimore to showcase the Eagle technology, which he referred to as a "unique tool in our arsenal of detection technology to protect our country." He went on to say, "The Eagle helps us accomplish two goals, our twin goals: achieving increased security against the terrorist threat, and doing so without shutting down the flow of trade and damaging our economy."
Ajay Mehra, President of Rapiscan Systems, stated, "The Eagle's value proposition of high inspection performance and high inspection rates has resonated tremendously with our global customers. This advanced technology enhances the accuracy of the inspection of cargo and increases the number of containers inspected while minimizing the impact on the flow of commerce. The customer that we are referencing understands this implicitly."
The X-ray imaging technology used in the Eagle cargo inspection systems was developed in conjunction with the DHS Customs and Border Protection specifically to address security needs at land and sea ports of entry. The Eagle is capable of penetrating dense cargo, producing high-quality images immediately available to an on-board inspector or inspectors viewing the images after their transmission to a remote facility. The Eagle is available in mobile, fixed, locally mobile and relocatable configurations providing the highest cargo penetration of all such systems enabling the rapid and accurate inspection of even dense cargo.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, 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 company's 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 lines are manufactured at four locations worldwide and are supported by a global support service network. For more information on Rapiscan Systems, please visit www.rapiscansystems.com.
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 and anesthesia delivery 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, please visit www.osi-systems.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, including, but not limited to the decisions that may be made by government officials, specifications of our products as compared to our competitors. 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 the statements by government officials will be in line with our current expectations or that positive statements will directly or even indirectly lead to new orders for our products. 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.
Contact:
OSI Systems
Jeremy Norton, 310-349-2237