Rapiscan Systems Receives Two Advanced Technology Contracts from U.S. Domestic Nuclear Detection
December 4, 2008 Hawthorne, CA
Rapiscan Systems, a leading global supplier and manufacturer of security inspection systems for homeland security applications, announced today that its research and development division, Rapiscan Laboratories, has been awarded two advanced technology demonstrator (ATD) contracts for $1.6 million from the U.S. Domestic Nuclear Detection Office (DNDO). The contracts are incrementally funded and if all options are subsequently exercised, the total contract award could total approximately $14 million.
The first contract is for the development of a cargo inspection system that is easily deployable and capable of automatically detecting fissile special nuclear material (SNM) and differentiating it from non-fissionable materials. The second contract is for the development of a hybrid cargo inspection system that combines x-ray imaging and neutron detection to identify nuclear fissionable material. The hybrid system will incorporate the Companys proprietary Auto-Z algorithm that provides automatic detection of high-atomic-number materials typically associated with nuclear weapons.
Ajay Mehra, President of Rapiscan Systems, stated, "These contracts require the unique combination of the expertise of our staff in high-energy x-ray imaging, neutronics as well as in mechanical, electrical engineering and software engineering. Once successfully completed, these threat detection and verification technologies will provide an additional inspection capability that can play an important role in protecting our nation from weapons of mass destruction being smuggled into the country."
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 x-ray 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 a global installed base 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.
About Rapiscan Laboratories
Rapiscan Laboratories, based in Sunnyvale, California, is the research and development arm of Rapiscan Systems and focuses on leading-edge government research and development programs in the area of non-intrusive inspection (NII) of people, baggage and cargo for contraband such as explosives, drugs, chemicals and nuclear material. Employing such technologies as x-ray radiography, x-ray computed tomography, neutron- and photon-based threat material detection and identification, many of the developments at Rapiscan Laboratories are incorporated into Rapiscan Systems security products.
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 predictions with regard to the prospective performance of, and market acceptance of, its products. The actual results may differ materially from those described in or implied by any forward-looking statement. Other important factors are set forth in our Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements.
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