OSI Systems Receives $4.7 Million Follow-on Orders for CREW 2.1 Electronic Jammer Systems
12 May 2008 - 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
Optoelectronics and Manufacturing division has received further
follow-on orders from ITT Corporation for approximately $4.7
million. Under the terms of the contract, OSI�s Optoelectronics and
Manufacturing division will deliver electronic sub-assemblies to be
used by ITT in its �CREW 2.1� vehicle-mounted electronic jammer
systems currently under contract for ultimate delivery to the U.S.
Department of Defense for its Mine Resistant Ambush Protected
(�MRAP�) armored vehicle program. Mr. Deepak Chopra, President and
Chief Executive Officer of OSI Systems, stated, �We are pleased to
continue our relationship with this critical U.S. government
initiative. We look forward to working with and supporting ITT with
their electronic sub-assembly needs in the future phases of this
important program.� About OSI Systems, Inc. OSI Systems, Inc. and
its subsidiaries 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. The Company 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 subsidiaries, 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 the company�s expectations, goals or
intentions about the future, including, but not limited to the
Company�s contract to deliver electronics to ITT. The actual
results may differ materially from those described in or implied by
any forward-looking statement. Other important factors are set
forth in the Securities and Exchange Commission filings OSI
Systems, Inc. All forward-looking statements speak only as of the
date made, and the Company undertakes no obligation to update,
amend or clarify these forward-looking statements.
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