OSI Systems (NASDAQ:OSIS)
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Rapiscan Systems, a division of OSI Systems, Inc.
(Nasdaq:OSIS), today announced that it has received a purchase order
from United States Customs and Border Patrol ("CBP") for Cargo and
Vehicle Inspection systems. Due to competitive reasons, the company
chooses not to disclose the value of the contract or the quantity of
systems ordered. The order is expected to be delivered within fiscal
2006.
The contract is part of a five year Indefinite Delivery Infinite
Quantity ("IDIQ") contract executed with the CBP for the company's
Rapiscan Eagle, Rapiscan Vehicle Explosives Detection System ("VEDS"),
Rapiscan Radiological Threat Inspection Systems ("RTIS") and Rapiscan
Gamma product lines, including respective training and support. The
IDIQ allows the CBP to purchase at their discretion these products
identified in the contract.
President of Rapiscan Systems Ajay Mehra stated, "We are very
excited about the IDIQ contract win allowing us to further strengthen
our ongoing relationship with the CBP. This win may result in
additional orders in option contract years -- allowing us to continue
our commitment to working with the federal government in securing our
nation's ports and border crossings."
The Rapiscan Gamma product line detects hidden contraband,
including weapons, explosives, weapons of mass destruction, drugs and
undeclared goods. The systems have an intrinsically lower radiation
field when compared to equivalent X-ray systems. They require a
smaller operational area and exclusion safety zone than other
inspection systems. Rapiscan Systems has deployed numerous Rapiscan
Gamma units to other parts of the United States Government and other
government customers around the world.
The advanced technology of the Rapiscan Eagle cargo inspection
systems have been deployed by Rapiscan Systems for use at seaports and
border crossings domestically and internationally. The Rapiscan Eagle
is available in mobile, fixed, locally mobile and relocatable
configurations.
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.
About OSI Systems, Inc.
OSI Systems Inc. is a Hawthorne, Calif.-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.
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 future orders by the CPB. 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 the CPB will
place additional orders under the IDIQ contract. 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.