Feb 12, 2009

OSI Systems Awarded $11 Million Contract for Cargo and Vehicle Inspection Systems

OSI Systems Awarded $11 Million Contract for Cargo and Vehicle Inspection Systems 12.2 KB

HAWTHORNE, Calif., Feb 12, 2009 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ: OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the Security and Healthcare industries, today announced that its Security division, Rapiscan Systems, has been awarded a $11 million contract from an undisclosed international customs authority for multiple Rapiscan Eagle(R) M4500 high energy cargo and vehicle inspection systems. The contract was the result of a competitive tender process and represents one of the largest contracts awarded within the Asia Pacific region in recent years.

OSI Systems CEO, Deepak Chopra, stated, "We are honored to have been selected to provide scanning equipment at a key government agency. The Rapiscan Eagle(R) M4500 is capable of inspecting trucks and shipping containers for manifest verification and identification of a wide range of threats including narcotics, weapons and contraband. This contract continues our relationship with this key Asian Pacific trading partner and provides us with strategic reference sites to leverage our marketing and sales efforts."

The Rapiscan Eagle^(R) M4500 mobile cargo and vehicle inspection system is mounted on a road-worthy commercial truck platform. The system can be deployed to scan shipping containers and trucks in less than 20 minutes while also being capable of penetrating dense cargo at increased inspection rates without impeding the flow of commerce. The system is part of Rapiscan's Eagle^(R) product line of High Energy X-ray Cargo inspection systems that features mobile, gantry, portal and fixed deployment configurations. The products have been installed internationally for use by military, customs and border protection agencies.

About OSI Systems, Inc.

OSI Systems, Inc. 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. We combine more than 30 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 Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

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 company's expectations, goals or intentions about the future, including, the Company's contracts to deploy its cargo and vehicle inspection systems. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the timing, and delivery of the cargo inspection systems may not ultimately remain in line with the Company's current expectations. 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.

SOURCE: OSI Systems, Inc.

OSI Systems, Inc.
Jeremy Norton
Vice President, Investor Relations & Business Development
310-349-2372
jnorton@osi-systems.com