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17 Jul 2018

OSI Systems Awarded $63 Million Contract for Multiple Cargo & Vehicle Inspection Systems

International Customer Awards $63 Million Contract for Cargo & Vehicle Inspection Systems

Jul 17, 2018

OSI SYSTEMS AWARDED $63 MILLION CONTRACT FOR MULTIPLE CARGO AND VEHICLE INSPECTION SYSTEMS

HAWTHORNE, Calif.--(BUSINESS WIRE)--Jul. 17, 2018-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division was awarded a contract for approximately $63 million to provide cargo and vehicle inspection systems, including installation, operator training, and multi-year maintenance service for an international customer. Multiple systems are expected to be deployed to screen occupied passenger vehicles, buses, and trucks to help secure critical national infrastructure.

“We are pleased to support the customer with advanced technology from our Rapiscan® Systems and AS&E® cargo and vehicle inspection product portfolio,” said OSI Systems’ Chairman and CEO, Deepak Chopra. “We have a long history of successful cargo installations utilizing transmission and Z Backscatter® X-ray detection technologies for inspecting dense cargo as well as passenger vehicles.” The Company did not disclose further details, citing end-user confidentiality obligations.

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

Forward-Looking Statements

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180717005379/en/

Source: OSI Systems, Inc.

OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com

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