OSI Systems Awarded Approximate $5.0 Million Contract for New Multi-View X-Ray Systems
December 18, 2007 Hawthorne, CA
Advanced System Designed to Expedite Passenger Screening at Aviation Checkpoints
OSI Systems, Inc. (Nasdaq:OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the security and healthcare industries, announced today that its Security division, Rapiscan Systems, has received a contract for approximately $5.0 million from an undisclosed international aviation customer for its new Rapiscan MVXi multi-view X-ray systems for passenger screening.
The Rapiscan MVXi is a multi-view X-ray system designed with advanced software to highlight explosives and other potential threat objects. Additionally, the multi-view platform also reduces the need to reposition carry-on bags during the inspection process thereby expediting the passenger screening process which, together with the systems lighter weight and energy efficient design is expected to lower the airports' long-run cost of ownership.
Ajay Mehra, President of Rapiscan Systems, stated, "The Rapiscan MVXi is among the most advanced checkpoint X-ray systems currently on the market. The system, designed specifically towards improving security and passenger throughput at the aviation checkpoint, should ultimately lead to shorter queues, fewer delays and less hassle during the passenger screening process. Initial customer response has been extremely positive and we are currently involved in active discussions with numerous international aviation customers regarding these new X-ray systems."
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products in diversified markets, including homeland security, healthcare, defense and aerospace. The Company has more than 30 years of experience in electronics engineering and manufacturing and maintains offices and production facilities located in more than a dozen countries. It implements a strategy of expansion by leveraging its electronics and contract manufacturing capabilities into selective end product markets through organic growth and acquisitions. For more information on OSI Systems, Inc. or any of its divisions, visit www.osi-systems.com.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc. is a leading supplier of high quality security inspection solutions utilizing X-ray and gamma-ray imaging, and advanced threat identification techniques such as neutron and diffraction analysis. The companys products are sold into four market segments; Baggage and Parcel Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening and People Screening. The company has an installed base globally of more than 50,000 security and inspection systems. The Rapiscan Systems product line is manufactured at four locations and supported by a global support service network. For more information on Rapiscan Systems, please visit www.rapiscansystems.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 Companys expectations, goals or intentions about the future, including the Companys predictions with regard to the prospective performance of, and market acceptance of, its products. The actual results may differ materially from those described in or implied by any forward-looking statement. Other important factors are set forth in our Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements.
For Further Information
OSI Systems, Inc
Jeremy Norton Vice President, Investor Relations
12525 Chadron Ave
Hawthorne CA 90250
Tel: (310) 349 2237