Rapiscan Systems Awarded Approximate $6 Million Contract from TSA
October 30, 2008 Torrance, CA
Rapiscan Systems, Inc., a leading global supplier of security inspection systems, announced today that it has been awarded an approximate $6 million contract by the United States Transportation Security Administration (TSA) for its Rapiscan RTT (Real Time Tomography) high-speed stationary gantry Computed Tomography (CT) baggage screening system.
The Rapiscan RTT is a baggage screening system that generates high-resolution 3-D X-ray images of passenger baggage to detect potential threats more accurately and at a higher speed than any currently available technology.
Rapiscan Systems president, Ajay Mehra, stated, "We believe the RTT system is a major advance over the CT-based baggage screening technologies that are currently deployed in US airports and elsewhere. Our stationary gantry design allows RTT to achieve speed and resolution that is unprecedented in legacy CT designs. This is the culmination of a significant engineering effort, so we greatly appreciate the support and confidence that the TSA has shown us."
Rapiscan RTT: A Break from Legacy CT Designs
The Rapiscan RTT system works unlike any legacy CT design. By eliminating the legacy designs moving gantry, the Rapiscan RTT captures images at several times the speed of legacy CT's, at higher resolution and with lower anticipated maintenance costs.
Rapiscan RTT Advantages Over Legacy CT Baggage Screening Systems
The Rapiscan RTT's radical design is expected to result in the following advantages over legacy CT systems:
Enhanced Threat Detection: The Rapiscan RTT's dramatically higher resolution potentially allows the system to more accurately detect a wide range of potential threats.
Lower Cost of Ownership: The Rapiscan RTT can lower the overall cost of ownership by: (a) anticipated lower maintenance costs with the elimination of a complex rotating gantry; (b) high throughput results in fewer machines necessary to handle a given volume of bags; (c) the system can be integrated inline with the existing baggage conveyor network without the need for costly modifications or reconfiguration.
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 70,000 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 contract with the Transportation Security Administration for the Real Time Tomography (RTT) 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 RTT 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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