Rapiscan Systems Awarded a Contract for Approximately $6.6 Million From U.S. Government Agency for Cargo & Vehicle Inspection Systems
The self-contained, mobile inspection systems will be used to screen trucks, cargo containers and passenger vehicles for contraband or explosives at border crossings at undisclosed locations. Delivery of the systems is expected to be completed by the third quarter of fiscal 2006.
Ajay Mehra, President of Rapiscan Systems, stated, "Today's announcement is indicative of the company's growing visibility within the U.S. Government. We continue to work closely with various agencies to develop innovative solutions for their security concerns both domestically and internationally. The contract also highlights the company's expectations for an improved financial performance in fiscal 2006."
The Rapiscan GaRDS product line detects hidden contraband, including weapons, explosives, weapons of mass destruction, drugs and undeclared goods. The systems have an intrinsically lower radiation field when compared to equivalent X-ray systems. They require a smaller operational area and exclusion safety zone than other inspection systems and are the most commonly used cargo and vehicle inspection technology in the world. Rapiscan Systems has deployed numerous Rapiscan GaRDS units to other parts of the United States Government and other government customers around the world.
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 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 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.
About OSI Systems, Inc.
OSI Systems, Inc. is a Hawthorne, Calif. based diversified
global developer, manufacturer and seller of security and inspection
systems, medical monitoring and anesthesia products, and
optoelectronic devices and value-added subsystems. 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.
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 anticipated future orders of the Rapiscan GaRDS system, the
company's improved financial performance for fiscal 2006 or our
relationship with the U.S. government. The actual results may differ
materially from those described in or implied by any forward-looking
statement. 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, Inc.
Jeremy Norton, 310-349-2237
or
Jefferson Consulting
Amy Talley, 703-323-8939
atalley@jeffersonconsulting.com