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07 Jun 2018

OSI Systems Receives $10 Million Contract for RTT® Hold Baggage Screening Systems

EU Airport Orders Multiple RTT® systems

Jun 6, 2018

OSI SYSTEMS RECEIVES $10 MILLION CONTRACT FOR RTT® HOLD BAGGAGE SCREENING SYSTEMS

HAWTHORNE, Calif.--(BUSINESS WIRE)--Jun. 6, 2018-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division received a contract for approximately $10 million to provide multiple units of its RTT® 110 (Real Time Tomography) explosive detection system to be installed at a European Union airport. Under this contract, the Company will also provide follow-on maintenance and support for these units.

OSI Systems’ Chairman and CEO, Deepak Chopra, stated, “We are excited to expand our airport installed base for RTT. The RTT continues to be widely accepted at airports seeking an ECAC-certified checked baggage solution.”

The RTT employs a proprietary solid-state approach to provide high-resolution 3-D imaging, and its unique design allows the efficient inspection of hold baggage and air cargo. RTT has passed the European Civil Aviation Conference's (ECAC) HBS EDS Standard 3 threat detection requirement and has been deployed by numerous airports and air logistics providers.

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/20180606005445/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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