26 Jul 2018
OSI Systems Awarded IDIQ Service & Maintenance Contract Valued Up to $140 Million from U.S. Customs & Border Protection
US Customs and Border Protection $140 Million IDIQ contract for Cargo & Vehicle and Parcel Inspection
Jul 26, 2018
OSI SYSTEMS AWARDED IDIQ SERVICE AND MAINTENANCE CONTRACT VALUED UP TO $140 MILLION FROM U.S. CUSTOMS AND BORDER PROTECTION
- Receives $25 million initial delivery order
HAWTHORNE, Calif.--(BUSINESS WIRE)--Jul. 26, 2018-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) announced today that its Security division has received a five-year indefinite delivery, indefinite quantity (IDIQ) contract valued up to $140 million from the United States Customs and Border Protection (U.S. CBP) for the service and maintenance of its cargo, vehicle, and parcel inspection systems. The Company also announced that it has received an initial delivery order for approximately $25 million to provide support services, including maintenance services, logistics, parts, and program management required to sustain the agency’s inspection systems.
“We are pleased to receive this IDIQ contract and initial delivery order to help ensure that our Rapiscan® Systems and AS&E®cargo, vehicle, and parcel inspection systems continue to operate at peak performance,” said OSI Systems’ Chairman and CEO, Deepak Chopra. “We are proud to continue to be a trusted resource for this valued customer and assist in its important counter-drug and anti-terrorism missions.”
About OSI Systems
OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end-product markets. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems' current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems' control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems' future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in OSI Systems' most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.
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Source: OSI Systems, Inc.
OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice President, Business Development