OSI Systems Receives $3.2 Million Service Contract for Fixed Site Cargo Inspection System
02 October 2006 - 9:00PM
Business Wire
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.
OSI Systems (NASDAQ:OSIS)
Historical Stock Chart
From Jun 2024 to Jul 2024
OSI Systems (NASDAQ:OSIS)
Historical Stock Chart
From Jul 2023 to Jul 2024