OSI Systems (NASDAQ:OSIS)
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From Sep 2019 to Sep 2024
OSI Systems, Inc. (NASDAQ:OSIS) announced today that its
security division, Rapiscan Systems, has received an order for
approximately $5.0 million from an undisclosed international customer
for multiple hybrid cargo and vehicle inspection systems. The Company
expects to deliver the systems, which utilize both X-ray and neutron
based technologies, within fiscal 2007.
The hybrid cargo and vehicle inspections systems enable the
customer to conduct a two-phase inspection process. During the first
phase of inspection process, the contents of the container are scanned
with the high energy X-Ray imaging technology of the Rapiscan Eagle.
The image is then interpreted by the operator for manifest
verification and threat detection.
If, during the inspection process, a suspicious object is
identified, the operator has the ability to scan the object, during a
second phase, with the proprietary material-specific Thermal Neutron
Analysis ("TNA") technology. The TNA technology automatically produces
a "red light/green light" response for the operator indicating whether
or not the suspicious object is a threat. This process minimizes human
error in image interpretation and the associated cost incurred from
having to manually inspect the contents of the container.
In conjunction, these hybrid technologies, operating on a rail
mounted gantry, will inspect inbound cargo/trucks at an undisclosed
international border crossing.
President of Rapiscan Systems, Ajay Mehra, stated, "We are excited
about this contract because it further enhances our leadership and
global presence in the cargo and vehicle inspection market. We have
always maintained our commitment to be the broadest supplier of
technologies for port and border security and screening allowing us
the flexibility to provide customized proprietary hybrid security
solutions to match the various security threats faced by our
customers."
About OSI Systems, Inc.
OSI Systems Inc. is a Hawthorne, California based diversified
global developer, manufacturer and seller of 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 sales of a combined Rapiscan Eagle and TNA technology hybrid
cargo solution. 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 Rapiscan Systems will
deliver the system in fiscal 2007, or that future sales of hybrid
cargo systems such as those described herein will be significant.
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.