17 Jan 2018
OSI Systems Receives $21 Million Order For RTT® Hold Baggage Screening Systems
$21 Million RTT® Order from Charles De Gaulle
Jan 17, 2018
OSI SYSTEMS RECEIVES $21 MILLION ORDER FOR RTT® HOLD BAGGAGE SCREENING SYSTEMS
HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the "Company" or "OSI Systems") (NASDAQ: OSIS) today announced that its Security division received a follow-on order for approximately $21 million to provide multiple additional units of its RTT®110 (Real Time Tomography) explosive detection systems that will be installed at Charles de Gaulle international airport located near Paris, France.
OSI Systems' Chairman and CEO, Deepak Chopra, commented, "We are pleased to announce this RTT order and look forward to continuing to serve this customer. Our RTT checked baggage solution's installed base continues to grow with European airports that are actively seeking to upgrade their screening infrastructure to the latest aviation threat detection standards."
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 while maintaining capability to meet the most recent threat detection standards. 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
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 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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