HAWTHORNE, Calif.--(BUSINESS WIRE)--
OSI
Systems, Inc. (the "Company" or "OSI Systems") (NASDAQ: OSIS) today
announced that its Security division received a delivery order valued at
approximately $21 million from U.S. Customs and Border Protection (CBP)
to provide Z
Portal® cargo and vehicle screening systems. The delivery
order was issued under the indefinite delivery, indefinite quantity
(IDIQ) contract received in October 2016 from CBP. The Company has now
received approximately $56 million in orders under this IDIQ contract
since its inception.
OSI Systems' Chairman and CEO, Deepak Chopra, stated, "We look forward
to supporting this customer with the implementation of our proven Z
Portal cargo inspection platform utilizing advanced backscatter
technology."
About Z Portal® Cargo and Vehicle Screening
Systems
The Z
Portal® system is the only drive-through cargo and
vehicle inspection system that uses multiple detection technologies to
provide up to six views of the vehicle under inspection. The Z Portal®
system incorporates the Company's proprietary source and detector
innovations in a more compact design, enabling improved image quality at
higher throughput rates.
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
its subsidiary companies, visit www.osi-systems.com.
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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' Annual Report on Form 10-K for the year
ended June 30, 2016 and other risks described therein and in documents
subsequently filed by OSI Systems from time to time with the Securities
and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170906005775/en/
OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice
President, Business Development
avashishat@osi-systems.com
Source: OSI Systems, Inc.
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