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Receives $25 million initial delivery order
HAWTHORNE, Calif.--(BUSINESS WIRE)--Jul. 26, 2018--
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS)
announced today that its Security division has received a five-year
indefinite delivery, indefinite quantity (IDIQ) contract valued up to
$140 million from the United States Customs and Border Protection (U.S.
CBP) for the service and maintenance of its cargo, vehicle, and parcel
inspection systems. The Company also announced that it has received an
initial delivery order for approximately $25 million to provide support
services, including maintenance services, logistics, parts, and program
management required to sustain the agency’s inspection systems.
“We are pleased to receive this IDIQ contract and initial delivery order
to help ensure that our Rapiscan® Systems and AS&E® cargo,
vehicle, and parcel inspection systems continue to operate at peak
performance,” said OSI Systems’ Chairman and CEO, Deepak Chopra. “We are
proud to continue to be a trusted resource for this valued customer and
assist in its important counter-drug and anti-terrorism missions.”
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
any of 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, and projections
concerning matters that are not historical facts. Forward-looking
statements are not guarantees of future performance and involve
uncertainties, risks, assumptions, and contingencies, many of which are
outside OSI Systems' control and which 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' most recently filed Annual Report on Form
10-K 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: https://www.businesswire.com/news/home/20180726005282/en/
Source: OSI Systems, Inc.
OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice
President, Business Development
avashishat@osi-systems.com
