Rapiscan Systems Receives $17.2 Million IDIQ from U.S. Customs & Border Protection
October 27, 2009 Torrance, CA
Rapiscan Systems, Inc., a leading global supplier of security inspection solutions, announced today that the U.S. Customs & Border Protection ("CBP" ) released a contract award notice for a $2.8 million order to OSI Systems' Security division, Rapiscan Systems, for the purchase of Mobile X-ray inspection vans. The award is the first to be placed under the terms of Rapiscan Systems' recently received $17.2 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract from the U.S. CBP. Funding for the purchase was provided to CBP through the American Recovery and Reinvestment Act of 2009.
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 companys products are sold into four market segments; Baggage and Parcel Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening and People Screening. The company has sold 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 contracts for security inspection products. 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 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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