Feb 1, 2010

OSI Systems Awarded Approximate $25 Million Contract from U.S. Government for Cargo & Vehicle Inspection Systems

OSI Systems Awarded Approximate $25 Million Contract from U.S. Government for Cargo & Vehicle Inspection Systems 12.3 KB

HAWTHORNE, Calif., Feb 01, 2010 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ:OSIS), a vertically-integrated provider of specialized electronics and services, today announced that its Security division, Rapiscan Systems, has been awarded an approximate $25 million contract from the United States Government for the purchase of multiple advanced security screening systems from the Company's cargo and vehicle inspection (CVI) product line.

Deepak Chopra, CEO and Chairman of OSI Systems, commented: "This contract award is a reflection of our commitment to design products that can operate in challenging environments. We believe our focus on ease-of-deployment, reliability and unsurpassed threat detection makes our cargo and vehicle inspection solutions an excellent choice for the U.S. Government and for governments worldwide."

Rapiscan Systems line of Cargo and Vehicle Inspection products provides comprehensive non-intrusive screening of cargo containers, trucks, light vehicles and cars. Using a range of proprietary X-ray, gamma-ray and neutron-based technologies, these systems can detect concealed weapons, narcotics, contraband and other potential threats in even densely packed and shielded containers. The Company's CVI solutions are used extensively for military force protection, border and port screening, customs enforcement, protection of critical infrastructure, screening of air cargo, as well as other homeland security applications. Supported by a global engineering, manufacturing and service infrastructure, Rapiscan Systems CVI solutions are deployed worldwide by customers including NATO, U.S. government agencies, UK Customs, and the European Union.

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 provide 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 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
310-349-2372
jnorton@osi-systems.com