OSI Systems Receives Contracts for Approximately $4 Million For Hold Baggage Screening Systems
July 1, 2008 Hawthorne, CA
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 contracts totaling approximately $4 million from six regional Australian airports for its Rapiscan MVXR5000 Inline Automated Hold Baggage Screening Systems (HBS).
The systems are to be installed at regional airports across Australia. The contract awards are the result of an Australian Federal Government mandate in May 2007 for select regional airports to provide 100 percent inspection of checked baggage by December 2008.
The Rapiscan MVXR5000 is designed for the aviation industry for the inspection of checked baggage and has been deployed successfully in airports worldwide. The system provides automated explosives detection with low false alarm rates by utilizing multi-view dual-energy X-ray to produce high quality images. The systems can be integrated into existing baggage conveyor infrastructures operating at speeds up to 1,800 bags per hour. The high throughput and automatic detection is coupled with the systems' advanced network capabilities to allow near-real time suspicious bag analysis to be completed by a networked group of remote operators. Images are then transmitted to the manual inspection stations as a search aid. The Rapiscan MVXR5000 has multiple layers of network redundancy designed to ensure the highest levels of system availability and fail-safe operation for the most demanding aviation security environments.
About OSI Systems, Inc.
OSI Systems Inc. is a Hawthorne, California based diversified global developer, manufacturer and seller of security and inspection systems, medical monitoring and anesthesia products, and optoelectronic devices and value-added subsystems. 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. OSI Systems 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 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 deploy hold baggage screening systems to regional airports within Australia. 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 hold baggage screening 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.
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