Rapiscan Systems Awarded $1.5 Million Contract Option with DHS Domestic Nuclear Detection Office
April 24, 2008 Hawthorne, CA
Rapiscan Systems, a leading global supplier and manufacturer of security inspection systems for homeland security applications, announced today that Rapiscan Laboratories ("Rap Labs"), its R&D development division, was awarded an approximate $1.5 million contract option for the next-phase of a data-fusion program with the Department of Homeland Security (DHS) Domestic Nuclear Detection Office.
The aim of the project is to improve the performance of existing nuclear threat detection techniques through the development of integrated systems utilizing X-ray and neutron based inspection methods. Integrated algorithms developed under the study are potentially expected to be deployable in a range of nuclear threat detection systems for cargo and container screening.
Ajay Mehra, President of Rapiscan Systems, stated, "This effort underscores the commitment and quality of our engineers in the development of advanced detection algorithms that utilize both X-ray and neutron technologies. Our primary charter at Rap Labs is to leverage our knowledge of Physics and Engineering to rapidly deploy systems that enable for the non-intrusive inspection of cargo for the detection of contraband items."
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 company's 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.
About Rapiscan Laboratories
Rapiscan Laboratories, based in Sunnyvale, California, is the research and development arm of Rapiscan Systems and focuses on leading edge government R&D in the area of non-intrusive inspection (NII) of cargo for contraband like explosives, drugs, chemicals and nuclear material. Many of the recent developments at Rapiscan Laboratories are being incorporated into Rapiscan Systems commercial inspections systems in the areas of low energy X-ray radiography, advanced high energy X-ray radiography, neutron and photon based threat material detection and identification.
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
Rapiscan Systems, Inc.
Vice President and General Manager, Rapiscan Labs
T: (408) 961-9753