Rapiscan Systems Opens New Headquarters to Meet Increased Demand for Inspection Technologies
August 15, 2007 Hawthorne, CA
Representative Jane Harman on Hand to Commend Company for Fostering Nation's Security Initiatives
OSI Systems, Inc. (NASDAQ:OSIS - News), a vertically-integrated provider of specialized electronic products for critical applications in the security and healthcare industries, announced that on Tuesday, August 14, 2007 its Security division, Rapiscan Systems, held the opening of its new 95,000 square foot headquarters in Torrance, California. The new facility represents a 400 percent increase in Rapiscan's U.S. production floor space. Representative Jane Harman (D-CA) - Chair of the Homeland Security Subcommittee on Intelligence, Information Sharing and Terrorism Risk Assessment - was on hand to cut the ribbon at the ceremony.
The facility enables the Company to more efficiently meet increased market demands for its products and services both domestically and abroad. Rapiscan Systems has recently experienced a dramatic increase in the need for its inspection technologies. The new headquarters allow for the continued expansion of both operations and increased sales.
President of Rapiscan Systems, Ajay Mehra, stated, "We are extremely excited to be opening our new headquarters. This announcement represents years of hard work that have gone into expanding Rapiscan's business. The work that is happening in Torrance is an important part of our nation's security. The products being developed and manufactured here represent some of the most sophisticated and comprehensive inspection technologies available today."
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 which is supported by a global support service network. For more information on Rapiscan Systems, please visit www.rapiscansystems.com.
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.
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 anticipated level of demand for the Company's security systems or its ability to efficiently meet such increased demand. 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 of 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
Amy Talley, 703-323-8939