Rapiscan Systems Recieves Award from Frost & Sullivan
December 11, 2008 Torrance, CA
Company's Technology Leadership Recognized for Improving Security of North American Aviation, Borders, Ports and Critical Infrastructure
Rapiscan Systems, a leading global supplier of security inspection systems, announced today that it has been named by consulting firm Frost & Sullivan as the 2008 North American Homeland Security Inspection and Screening Company of the Year. The selection was based on the company's ability to produce results in a maturing industry, drive technological innovation, apply strategic vision to bring products and services successfully to market, and deliver the highest level of customer value and satisfaction. Rapiscan Systems emerged clearly as the market leader and was cited specifically for its capacity to develop and deploy solutions that provide intelligence and enhance security at airports, seaports and border crossings around the world.
In the past year, Rapiscan has strengthened its ability to support its customers' security requirements. The company opened a manufacturing facility for its Cargo and Vehicle Inspection products in North Carolina, and expanded its manufacturing and service capacity at its California and Mississippi locations. It continued its record of innovation with the launch of new solutions, including:
Rapiscan 620DV an advanced checkpoint screening solution designed for aviation and other high security applications;
Metor 300 Portable a versatile, state-of-the-art walk-through metal detector that combines advanced metal detection technology with practical design elements;
Rapiscan M4500 Series Eagle Mobile a high-performance 4.5MeV Mobile Cargo and Vehicle X-ray inspection system that maintains industry-leading imaging performance against the newly introduced ANSI standards for Cargo screening, and has the ability to produce high-resolution images for inspection in record time; and
WaveScan 200 a next-generation personnel screening system that uses passive millimeter wave technology to provide high throughput, non-intrusive detection of concealed explosive threats.
Additionally, Rapiscan Systems is developing the Rapiscan RTT (Real Time Tomography), a high-speed stationary gantry baggage screening system, and Rapiscan Laboratories (located in Sunnyvale, California), won a number of innovative contracts from the Domestic Nuclear Detection Office of the Department of Homeland Security as a result of its pioneering work in the area of Radiation-Nuclear material detection.
David Fishering, Frost & Sullivan Homeland Security Industry Analyst, stated, Rapiscan Systems has built up momentum and continued to ride the wave of success throughout 2008. Increasing its revenue with novel products and a strategic business model, the company has been able to overcome the challenges of a maturing market. This trend of success and innovation will continue to increase Rapiscan Systems market share and industry influence.
The awards methodology included interviews with all the market participants, including customers and suppliers, coupled with extensive secondary and technology research. Rapiscan Systems efforts were then analyzed based on the number of new customers, new market segments, and commitment to business expansion, coupled with overall growth.
Rapiscan Systems president, Ajay Mehra, stated, We are proud to receive this prestigious honor from Frost & Sullivan, the industry's leading independent Homeland Security technology consulting firm. It speaks to the dedication of Rapiscan Systems employees and the technological innovation that result from listening closely to our customers and designing solutions that provide both outstanding performance and unsurpassed value.
The company also received The Queen's Awards for Enterprise in April of this year. This prestigious award, in the International Trade category, recognized Rapiscan System's continued success in the Europe, Middle East and Africa (EMEA) region.
The Frost & Sullivan Award for Company of the Year is presented each year to the company that has demonstrated unparalleled excellence within the Homeland Security Inspection and Screening industry. The Award is based on numerous factors including a companys business development, competitive strategy, customer satisfaction and leadership within a particular Frost & Sullivan Industry Research Group (IRG). The recipient also exhibits outstanding management and consistent growth, must offer high quality products and services and has positive social and economic impact on local and national communities. Finally, it is imperative that the company has proven expertise in taking advantage of market changes by capturing and solidifying market presence through execution of innovative strategies within the existing competitive landscape.
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.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivans Growth Partnership Services, visit http://www.frost.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 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.