21 Jun 2017
OSI Systems Awarded $23 Million Contract to Provide RTT® Explosive Detection Systems
European Airport Awards $23 Million Contract to Provide RTT® EDS
Jun 21, 2017
OSI SYSTEMS AWARDED $23 MILLION CONTRACT TO PROVIDE RTT EXPLOSIVE DETECTION SYSTEMS
HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (NASDAQ: OSIS) today announced that its Security division has been awarded a contract valued at approximately $23 million from a major European airport group to provide multiple units of its RTT® 110 (Real Time Tomography) Explosive Detection Systems.
OSI Systems' Chairman and CEO, Deepak Chopra, commented, "Our RTT hold baggage systems continue to be well received in the marketplace by customers that seek to meet ECAC detection standard guidelines. We are excited to serve this customer and look forward to expanding our RTT installed base in the region."
The RTT employs a proprietary, solid-state approach to provide high-resolution 3-D imaging, and its unique design allows for the efficient inspection of hold baggage and air cargo. RTT has passed the European Civil Aviation Conference's (ECAC) HBS EDS Standard 3 requirement and has been deployed by numerous airports and air logistics providers.
About OSI Systems, Inc.
OSI Systems, Inc. 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. We combine 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, Inc. 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, projections and similar expressions concerning matters that are not historical facts and are not guarantees of future performance. Forward-looking statements involve uncertainties, risks, assumptions and contingencies, many of which are outside OSI Systems' control that 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 Systemsassumes 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' Annual Report on Form 10-K for the year ended June 30, 2016 and other risks described therein and in documents filed by OSI Systems from time to time with the Securities and Exchange Commission.
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OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice President, Business Development
Source: OSI Systems, Inc.
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