Rapiscan Systems Awarded Approximate $25 Million Contract from U.S. Government
February 1, 2010 Torrance, CA
Rapiscan Systems, a leading supplier of security inspection systems, today announced that it has been awarded an approximate $25 million contract from the United States Government for the purchase of multiple advanced security screening systems from the Company's cargo and vehicle inspection (CVI) product line. Under the terms of the agreement, the systems will be used for overseas security applications.
Ajay Mehra, President of Rapiscan Systems, commented: "This contract award is a reflection of our commitment to design products that meet their demanding requirements. We believe our focus on ease-of-deployment, reliability and unsurpassed threat detection makes our cargo and vehicle inspection solutions an excellent choice for the U.S. Government and for governments worldwide."
Rapiscan Systems line of Cargo and Vehicle Inspection products provides comprehensive non-intrusive screening of cargo containers, trucks, light vehicles and cars. Using a range of proprietary X-ray, gamma-ray and neutron-based technologies, these systems can detect concealed weapons, narcotics, contraband and other potential threats in even densely packed and shielded containers. The Company's CVI solutions are used extensively for military force protection, border and port screening, customs enforcement, protection of critical infrastructure, screening of air cargo, as well as other homeland security applications. Supported by a global engineering, manufacturing and service infrastructure, Rapiscan Systems CVI solutions are deployed worldwide by customers including NATO, U.S. government agencies, UK Customs, and the European Union.
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 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 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 company's expectations, goals or intentions about the future, including, the Company's contracts to provide its cargo and vehicle inspection 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 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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