Rapiscan Systems Awarded a Contract for Approximately $6.6 Million From U.S. Government Agency for Cargo & Vehicle Inspection Sy
12 October 2005 - 10:00PM
Business Wire
Rapiscan Systems, a division of OSI Systems, Inc. (Nasdaq:OSIS),
announced today that it has received a contract for approximately
$6.6 million from an undisclosed U.S. government agency to provide
multiple Rapiscan Gamma Radiographic Detection Systems (GaRDS)
systems. The self-contained, mobile inspection systems will be used
to screen trucks, cargo containers and passenger vehicles for
contraband or explosives at border crossings at undisclosed
locations. Delivery of the systems is expected to be completed by
the third quarter of fiscal 2006. Ajay Mehra, President of Rapiscan
Systems, stated, "Today's announcement is indicative of the
company's growing visibility within the U.S. Government. We
continue to work closely with various agencies to develop
innovative solutions for their security concerns both domestically
and internationally. The contract also highlights the company's
expectations for an improved financial performance in fiscal 2006."
The Rapiscan GaRDS 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 and are the most commonly used cargo and
vehicle inspection technology in the world. Rapiscan Systems has
deployed numerous Rapiscan GaRDS units to other parts of the United
States Government and other government customers around the world.
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 anticipated future orders
of the Rapiscan GaRDS system, the company's improved financial
performance for fiscal 2006 or our relationship with the U.S.
government. The actual results may differ materially from those
described in or implied by any forward-looking statement. 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.
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