UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) AUGUST 9, 2011
OSI SYSTEMS, INC.
(EXACT NAME OF REGISTRANT SPECIFIED IN CHARTER)
| DELAWARE | 000-23125 | 330238801 | ||
| (STATE OR OTHER JURISDICTION OF INCORPORATION) |
(COMMISSION FILE NUMBER) |
(IRS EMPLOYER IDENTIFICATION NO.) |
12525 CHADRON AVENUE
HAWTHORNE, CA 90250
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(310) 978-0516
(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On August 9, 2011, we issued a press release announcing that our Security division, Rapiscan Systems, had received a contract valued at approximately $7 million from the U.S. Army to provide multiple units of a ruggedized version of the Secure 1000 advanced people screening system. The order stems from a recently awarded three-year, $248 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract from the U.S. Army.
We also announced that our Security division had achieved record bookings for the quarter ended June 30, 2011, of $85 million, which represents a 22% increase over the prior year. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as exhibits to this Current Report on Form 8-K:
| Exhibit |
Description | |
| 99.1 | Press Release dated August 9, 2011. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OSI SYSTEMS, INC. | ||||||
| Date: August 9, 2011 | ||||||
| By: | /s/ Alan Edrick | |||||
| Alan Edrick | ||||||
| Chief Financial Officer | ||||||
EXHIBIT INDEX
| Exhibit |
Description | |
| 99.1 | Press Release dated August 9, 2011. | |
Exhibit 99.1
OSI SYSTEMS RECEIVES $7 MILLION CONTRACT FROM U.S. ARMY FOR ADVANCED PEOPLE SCREENING SOLUTION
| • | Becomes first vendor to receive a delivery order from the $248 million Entry Control Point IDIQ contract |
| • | Record Security fourth quarter fiscal 2011 bookings of $85 million (22% increase over prior year) |
HAWTHORNE, CA. – August 9, 2011 – OSI Systems, Inc. (NASDAQ: OSIS), a vertically-integrated provider of specialized electronics and services, today announced that its Security division, Rapiscan Systems, has received a contract valued at approximately $7 million from the U.S. Army to provide multiple units of its ruggedized Secure 1000 advanced people screening system. The order stems from a recently awarded three-year $248 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract to Rapiscan by the Army.
The Company also announced that Rapiscan Systems achieved record bookings for the quarter ended June 30, 2011 of $85 million, which is a 22% increase over prior year.
OSI Systems President and CEO, Deepak Chopra, commented: “We look forward to supporting the U.S. Army in implementing the next generation of checkpoints at military bases in theaters of operation. Heading into fiscal 2012, we believe our strong Q4 bookings performance, diversified product portfolio and a robust pipeline of new opportunities position Rapiscan specifically and OSI Systems overall to continue strong growth.”
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.
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 solutions to the Security industry and predictions about quarterly performance and other matters. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the Company has not yet finalized the financial statements to be included in its annual report on Form 10-K for fiscal year 2011. 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, amend or clarify these forward-looking statements.
OSI Systems Inc
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com