OSI Systems (NASDAQ:OSIS)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more OSI Systems Charts. Click Here for more OSI Systems Charts.](/p.php?pid=staticchart&s=N%5EOSIS&p=8&t=15)
OSI Systems, Inc. (Nasdaq:OSIS), a vertically integrated provider of
specialized electronic products for critical applications in the
Security and Healthcare industries, announced today that its Security
and Inspection division, Rapiscan Systems, received a $3.2 million
multi-year service contract from EMSD (Electrical and Mechanical
Services Department), a Hong Kong government agency.
The contract is for service and maintenance of the Dual 9MeV High Energy
X-ray Fixed Site system installed at the Lok Ma Chau border crossing
between Hong Kong and China. The system, operated by Hong Kong Customs
and Excise Department, was installed by Rapiscan Systems in 2003.
Rapiscan Systems President Mr. Ajay Mehra stated, “This
is our second multi-year service contract that we have entered into with
EMSD. One of Rapiscan Systems competitive advantages is our ability to
offer customers around the clock after market service and maintenance
globally. We currently have more than forty Cargo and Vehicle Inspection
systems in various configurations deployed globally. As our installed
base continues to grow, our service revenue continues to increase
accordingly.”
About OSI Systems, Inc.
OSI Systems, Inc. is a Hawthorne, Calif.-based diversified global
developer, manufacturer and seller of specialized electronics security
and inspection systems, medical monitoring and anesthesia products, and
optoelectronic devices and value-added subsystems. The company has more
than 30 years of experience in electronics engineering and
manufacturing, and maintains offices and production facilities located
in more than a dozen countries. OSI Systems implements a strategy of
expansion by leveraging its electronics and contract manufacturing
capabilities into selective end product markets through organic growth
and acquisitions. For more information on OSI Systems, Inc. or any of
its subsidiary companies, visit www.osi-systems.com.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc., is a leading supplier
of high quality security inspection solutions utilizing X-ray and
gamma-ray imaging, and advanced threat identification techniques such as
neutron and diffraction analysis. The company’s
products are sold into four market segments: Baggage and Parcel
Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening and
People Screening. The company has an installed base globally of more
than 50,000 security and inspection systems. The Rapiscan Systems
product line is manufactured at four locations and supported by a global
support service network. For more information on Rapiscan Systems,
please visit www.rapiscansystems.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements include information regarding our expectations, goals or
intentions about the future, including, but not limited to, statements
regarding our service capabilities and relationship with EMSD or the
Hong Kong Customs and Excise Department. The actual results may differ
materially from those described in or implied by any forward-looking
statement. In particular, there can be no assurance that our service
revenue can continue to increase as the number of installed systems
increases. Other important factors are set forth in our Securities and
Exchange Commission filings. All forward-looking statements speak only
as of the date made, and we undertake no obligation to update these
forward-looking statements.
OSI Systems, Inc. (Nasdaq:OSIS), a vertically integrated provider
of specialized electronic products for critical applications in the
Security and Healthcare industries, announced today that its Security
and Inspection division, Rapiscan Systems, received a $3.2 million
multi-year service contract from EMSD (Electrical and Mechanical
Services Department), a Hong Kong government agency.
The contract is for service and maintenance of the Dual 9MeV High
Energy X-ray Fixed Site system installed at the Lok Ma Chau border
crossing between Hong Kong and China. The system, operated by Hong
Kong Customs and Excise Department, was installed by Rapiscan Systems
in 2003.
Rapiscan Systems President Mr. Ajay Mehra stated, "This is our
second multi-year service contract that we have entered into with
EMSD. One of Rapiscan Systems competitive advantages is our ability to
offer customers around the clock after market service and maintenance
globally. We currently have more than forty Cargo and Vehicle
Inspection systems in various configurations deployed globally. As our
installed base continues to grow, our service revenue continues to
increase accordingly."
About OSI Systems, Inc.
OSI Systems, Inc. is a Hawthorne, Calif.-based diversified global
developer, manufacturer and seller of specialized electronics security
and inspection systems, medical monitoring and anesthesia products,
and optoelectronic devices and value-added subsystems. The company has
more than 30 years of experience in electronics engineering and
manufacturing, and maintains offices and production facilities located
in more than a dozen countries. OSI Systems implements a strategy of
expansion by leveraging its electronics and contract manufacturing
capabilities into selective end product markets through organic growth
and acquisitions. For more information on OSI Systems, Inc. or any of
its subsidiary companies, visit www.osi-systems.com.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc., is a leading
supplier of high quality security inspection solutions utilizing X-ray
and gamma-ray imaging, and advanced threat identification techniques
such as neutron and diffraction analysis. The company's products are
sold into four market segments: Baggage and Parcel Inspection, Cargo
and Vehicle Inspection, Hold Baggage Screening and People Screening.
The company has an installed base globally of more than 50,000
security and inspection systems. The Rapiscan Systems product line is
manufactured at four locations and supported by a global support
service network. For more information on Rapiscan Systems, please
visit www.rapiscansystems.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements include information regarding our expectations, goals or
intentions about the future, including, but not limited to, statements
regarding our service capabilities and relationship with EMSD or the
Hong Kong Customs and Excise Department. The actual results may differ
materially from those described in or implied by any forward-looking
statement. In particular, there can be no assurance that our service
revenue can continue to increase as the number of installed systems
increases. Other important factors are set forth in our Securities and
Exchange Commission filings. All forward-looking statements speak only
as of the date made, and we undertake no obligation to update these
forward-looking statements.