Rapiscan Systems Awarded TSA Contract for Testing of Passenger Imaging System
August 8, 2007 Hawthorne, CA
OSI Systems, Inc. (NASDAQ:OSIS - News), 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 been awarded an initial delivery order for Passenger Imaging systems at respective pilot locations and an Indefinite Delivery Indefinite Quantity Contract (IDIQ) with options up to $17 million from the Transportation Security Administration (TSA). Under the terms of the agreement, Rapiscan Systems' Secure 1000 Body Scanner will be deployed at a number of airport pilot locations.
President of Rapiscan Systems, Ajay Mehra, stated, "We applaud the TSA's commitment to furthering passenger imaging testing in a real-world scenario. We are looking forward to getting the feedback from U.S. aviation passengers, as the technology has already been very well-received internationally."
In September 2005, Rapiscan announced its first civilian aviation deployment at London's Heathrow Airport. The systems are also in use at countless military and government sites both domestically and abroad.
About OSI Systems, Inc.
OSI Systems, Inc. and its subsidiaries is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The company sells its products in diversified markets, including homeland security, healthcare, defense and aerospace. 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.
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.
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 results of the pilot program and the amount of future orders under the company's contract with the Transportation Security Administration . The actual results may differ materially from those described in or implied by any forward-looking statement. 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.
OSI Systems, Inc.
Jeremy Norton - Director, Investor Relations