OSI Systems Awarded Approximate $2.0 Million Contract for Baggage and Parcel X-Ray Systems
22 January 2008 - 11:00PM
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 division, Rapiscan Systems, has received a contract for
approximately $2.0 million from its Chinese distributor, Ryan
Security Technologies, Ltd. for its Rapiscan 500 series baggage and
parcel inspection systems. The systems are intended to be installed
in and around Beijing for use during the upcoming Olympic and
Para-Olympic Games, making Rapiscan Systems the primary western
supplier of X-ray scanning equipment for the events. Ajay Mehra,
President of Rapiscan Systems, stated, �Rapiscan is very pleased to
continue our long-standing relationship with the Olympic and
Para-Olympic Games. While we have been working with high-profile
international sporting events for years, this announcement is
unique in that it demonstrates the strides we are making in
garnering market share in the rapidly expanding Chinese security
market.� About OSI Systems, Inc. OSI Systems, Inc. is a vertically
integrated designer and manufacturer of specialized electronic
systems and components for critical applications. The Company sells
its products in diversified markets, including homeland security,
healthcare, defense and aerospace. 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. It 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 divisions, 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 the Company�s
expectations, goals or intentions about the future, including the
Company�s predictions with regard to the prospective use and
performance of its Rapiscan 500 series of baggage and parcel
inspection systems. 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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