Rapiscan Systems Announces Follow On Order From TSA For Approximately $3 Million
May 21, 2009 Torrance, CA
Rapiscan Systems, Inc., a leading global supplier of security inspection systems, announced today, announced today that its Security division, Rapiscan Systems, has been awarded a follow-on order for approximately $3 million for its Rapiscan 620DV (Dual-View) Advanced Technology (AT) X-Ray scanning systems from the U.S. Transportation Security Administration (TSA). This order brings the total amount awarded to date to approximately $40 million since Rapiscan Systems received an Indefinite Delivery Indefinite Quantity (IDIQ) Order from the TSA in August 2007. This award is one of the first awards made by TSA that uses funds from the American Recovery and Reinvestment Act of 2009
The Rapiscan 620DV AT is an advanced baggage and parcel screening system for use in aviation checkpoints. It meets the requirements of multiple global aviation regulators, and is one of a select number of security technologies to receive U.S. SAFETY Act Certification. Since August 2007, TSA has deployed over 380 Rapiscan 620DV AT systems in approximately 30 U.S. airports, making the Rapiscan 620DV one of the most widely deployed Advanced Technology screening systems in the U.S. The Rapiscan 620DV is now the only Advanced Technology checkpoint baggage screening system deployed at John F. Kennedy International Airport, Los Angeles International Airport, Chicagos OHare International Airport and Atlantas Hartsfield International Airport, airports which in 2008 handled approximately 113 million passenger boardings. The deployment of Rapiscan 620DVs at Los Angeles International Airport also represents the largest installation of AT systems at any single site in the U.S.
The Rapiscan 620DV dual-energy transmission X-ray technology allows security officers to identify organic and inorganic threats and rapidly analyze threat images. The Rapiscan 620DV ATs dual view imaging allows security officers to obtain multiple views of a carry-on bag, thereby improving threat detection and reducing the need for bag repositioning and improving checkpoint operations. The systems modular software platform is designed to enable rapid upgrades in response to new detection requirements as new capabilities are developed.
Rapiscan Systems President, Ajay Mehra, stated, We are honored that TSA has chosen to make this award one of the first awards using economic stimulus funds with the deployment of the Rapiscan Systems 620DV AT. The system is an excellent example of U.S. technology and manufacturing innovation, and we are proud that it is the primary carry-on baggage screening solution for three of the five busiest US airports. Mr. Mehra continued: We have continued to improve the Rapiscan 620DV AT since our first award in 2007 and the TSAs continued deployment of the system demonstrates Rapiscans ongoing leadership in delivering cost-effective advanced checkpoint screening technologies that meet the highest levels of aviation security performance.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc. is a leading supplier of 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 70,000 security and inspection systems. The Rapiscan Systems product line is manufactured at four locations and supported by a global support service network. The company was recognized for its market leadership with one of the United Kingdom's most prestigious distinctions The Queen's Awards for Enterprise and named by Frost & Sullivan as the 2008 North American Homeland Security Inspection and Screening Company of the Year. 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 contract with the Transportation Security Administration for Advanced Technology X-Ray systems. 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 Advanced Technology X-Ray systems may not ultimately remain in line with the companys 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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