27 Sep 2017
OSI Systems Receives $6 Million Order For RTT® Explosive Detection Systems For Air Cargo
Leading Intl Logistics and Air Cargo Company Order Multiple RTT® Systems
Sep 27, 2017
OSI SYSTEMS RECEIVES $6 MILLION ORDER FOR RTT® EXPLOSIVE DETECTION SYSTEMS FOR AIR CARGO
HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the "Company" or "OSI Systems") (NASDAQ: OSIS) today announced that its Security division has received an order valued at approximately $6 million from a leading international logistics and air cargo company for multiple units of Rapiscan® Systems, RTT® 110 (Real Time Tomography) explosive detection system (EDS).
Deepak Chopra, OSI Systems' Chairman and CEO, commented, "We are pleased to support an existing RTT customer with new installments of our industry-leading EDS 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 while maintaining the 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 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' Annual Report on Form 10-K for the year ended June 30, 2017, and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.
SOURCE: OSI Systems, Inc.
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OSI Systems, Inc.
Vice President, Business Development
Source: OSI Systems, Inc.
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